Lukoil to Acquire Samara-Nafta from Hess for US$2.05 Billion

Deal to allow Lukoil to Gain Foothold in the Samara and Ulyanovsk Regions of Russia - Deal Analysis from GlobalData

[USPRwire, Tue May 07 2013] Lukoil Oil Company (Lukoil) has agreed to acquire CJSC Samara-Nafta (Samara-Nafta) from Hess Corporation (Hess) for a purchase consideration of US$2.05 billion. Under the terms of the agreement, Hess is expected to receive approximately US$1.8 billion after tax for its 90% stake in Samara-Nafta. Simon Kukes, holder of the other 10% stake in Samara-Nafta, also plans to sell his stake to Lukoil.

Samara-Nafta is producing about 50,000 barrels of oil equivalent per day (boed) in the Volga-Urals region of Russia. It has C1 (proven) and C2 (possible) oil reserves of approximately 85 million tons (mmt). Goldman Sachs (AO) L.L.C. is acting as financial advisor to Hess in the transaction. The acquisition will enable Lukoil to gain a foothold in the Samara and Ulyanovsk regions of Russia.

The closing of the transaction is subject to the customary approval process of Russia's Federal Anti-Monopoly Service.

Full Report Details at
- http://www.fastmr.com/prod/591835_lukoil_to_acquire_samaranafta_from_hess_for_us205.aspx?afid=302

Scope

* The report analyzes the rationale behind Lukoil's plan to acquire Samara-Nafta from Hess for US$2.05 billion
* The report also analyzes Hess' decision to sell Samara-Nafta in line with its asset sales program
* Geography Covered - Russia

Reasons to Get this Report

* To understand Lukoil's plan to establish its foothold in Samara and Ulyanovsk regions of Russia through the acquisition Samara-Nafta from Hess
* To understand Hess' planned sale of Samara-Nafta in the contaxt of its ongoing asset sales program to transform from an integrated oil and gas company to pure-play exploration and production company
* To know about oil reserves and production details of Samara-Nafta

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