Hungarian MOL oil company sells its last Russian asset

Hungarian MOL oil company sells its last Russian asset
Tags: Photo source:

MOL Group, a Hungarian oil and gas company and the second most valuable company in Central and Eastern Europe, closed the transaction over selling its last Russia asset – Matyushkinskaya Vertikal LCC located in the Tomsk region, Izvestia newspaper reports.

“Hungarian MOL sold 100% of Matyushkinskaya Vertikal LCC to four Russian companies, which have already transferred this asset to Rus Oil for trust management” the newspaper states. This information has been confirmed by Rus Oil as well.

The contract price hasn’t been revealed yet, however, according to experts’ assessment, the matter concerns an amount of approximately $30 million. Besides of that, development of Matyushkinskaya Vertikal LCC has already been included in Rus Oil’s sustainability plan until 2019.

As a reference, Matyushkinskaya Vertikal LLC owns the licence to the subsoil under the Matjushkinskiy block in the Tomsk region, Western Siberia, which is one of main oil producing regions in Russia.