ZAGREB, Aug 12 (Hina) - The Croatian oil company INA has successfully completed negotiations with the Personal and Business Solutions SA Geneva (PBS SA) company, which is linked to the Russian Fosneftgas oil company, and signed a
contract to sell the "White Nights" oil fields in Siberia.
ZAGREB, Aug 12 (Hina) - The Croatian oil company INA has
successfully completed negotiations with the Personal and Business
Solutions SA Geneva (PBS SA) company, which is linked to the Russian
Fosneftgas oil company, and signed a contract to sell the "White
Nights" oil fields in Siberia. #L#
As INA reported on Monday, the transaction was concluded on Aug. 2.
INA managed to obtain the asking price of US$74 million.
The negotiations over 'White Nights' began early 2001 when INA set
out to find a strategic partner that could enable it to remain
involved in the project, as well as in other fields in the Russian
Federation. Nevertheless, during negotiations specific
circumstances compelled INA to decide to completely sell the field,
a statement said.
(hina) sp ha