Bloomberg News

Eurasia Drilling Delays Slavneft Deal Completion to End of Year

November 18, 2011

Nov. 18 (Bloomberg) -- Eurasia Drilling Co., an oilfield services company, plans to complete a deal to buy drilling assets from TNK-BP and OAO Gazprom Neft’s OAO Slavneft unit by the end of the year, about six months later than planned.

The sides are still discussing terms, Alexander Djaparidze, the billionaire chief executive of the London-listed company, said today in a Moscow interview.

Eurasia in February agreed to buy the Slavneft assets for $150 million to increase its share of the Russian market. It said at the time that it planned to close the transaction with Moscow-based Slavneft by the middle of the year.

--With assistance from Anna Shiryaevskaya in Moscow. Editors: Randall Hackley, Ana Monteiro

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net


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