OAO Rosneft, Russia’s largest oil producer, agreed to pay 3.5 billion rubles ($120 million) for licenses to oil and gas deposits in the Russian sector of the Barents Sea.
Rosneft bought 100 percent of Sintezneftegaz, holder of the offshore Pakhtusovskaya and Admiralteyskaya areas, the Moscow-based company said in a financial statement late yesterday.
The Russian state-run producer also acquired 50 percent of Arcticshelfneftegaz, owner of the Medinsko-Varandeysky deposit in the Barents Sea, Rosneft said in the statement.
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