ZAGREB, Nov 5 (Hina) - Croatia's oil giant INA will pay some US$20 +million for concession to use two oil fields in west Siberia, INA +general director Davor Stern said on Thursday.+ On Tuesday INA signed an agreement on the purchase
of "White +Nights", a Russian company, with concession for the two said oil +fields.+ Half the amount will be paid in cash within two years, while the rest +will be paid through technical services on oil wells in other oil +fields owned by another Russian company, Sidanco, Stern told +reporters.+ According to current prices, ten million tons of oil will be drilled +in the two fields, while technical oil reserves are estimated at 60 +million tons.+ Stern added business related to INA's privatisation was +continuing. INA's worth assessment, carried out by Deutsche Bank, +will be completed by January. The company will be able to enter the +international capi
ZAGREB, Nov 5 (Hina) - Croatia's oil giant INA will pay some US$20
million for concession to use two oil fields in west Siberia, INA
general director Davor Stern said on Thursday.
On Tuesday INA signed an agreement on the purchase of "White
Nights", a Russian company, with concession for the two said oil
fields.
Half the amount will be paid in cash within two years, while the rest
will be paid through technical services on oil wells in other oil
fields owned by another Russian company, Sidanco, Stern told
reporters.
According to current prices, ten million tons of oil will be drilled
in the two fields, while technical oil reserves are estimated at 60
million tons.
Stern added business related to INA's privatisation was
continuing. INA's worth assessment, carried out by Deutsche Bank,
will be completed by January. The company will be able to enter the
international capital market in March 1998 at the latest.
(hina) ha