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Rosneft plans to sell part of its assets to Chechnya – media

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Rosneft plans to sell part of its assets to Chechnya – media

At the end of month, Russian oil giant Rosneft provided evaluation of its assets in Chechnya to the Russian Ministry of Economic Development, made by PwC, for the purpose of their further sale to the Republic, Kommersant newspaper reports on Monday.

The company intends to sell 51% stake in Grozneftegaz, based on the oil assets of the Chechen Republic, and the rest of its assets in the region for 12,5 billion rubles.

According to the newspaper’s source, the offer made by Rosneft for the sale of its Chechen assets was discussed at a session of to the Economic Development Ministry. Over the course of the session, the Republic’s representatives asked to carry out an analysis of the results of the assets’ evaluation. Only thereafter will the Russian government prepare guidelines for the deal.

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