Rus News Journal

The British exchange

Shell wants to receive a share in Sibir Energy

English - the Dutch company Royal Dutch Shell wants to exchange 50 % in Salymsky group of deposits for actions of the partner in this project - the British oil company Sibir Energy, write the British mass-media. On their information, the size of the transaction can make 2 mlrd dollars According to experts, for this sum Shell can receive an order of 30 % Sibir.

Sibir Energy 50 % Salym Petroleum Development through Open Society " own; NK Evihon 95 % of actions of Open Society NK Magma (HMAO), 100 % of the Moscow oil and gas company, and also a network more than from 200 gasoline stations in Moscow and Moscow Region. 18 % Sibir Energy are in the property of the government of Moscow, 47 % - Bennfield Limited, in equal shares of belonging Shalve Chigirinsky and to Igor Kesaevu. Other securities are distributed between private shareholders and the international funds.

Royal Dutch Shell some months carries on negotiations for an exchange of 50 % belonging to it in the project on working out of Salymsky group of oil deposits in Hunts - Mansijsky autonomous region on a share holding in Sibir Energy, the Financial Times newspaper writes. The size of a package for which applies Shell, is not called. According to edition The Sunday Times, the sum of transaction can make an order 1 mlrd pounds sterling (nearby 2 mlrd dollars) .

In Shell to comment on the information on the transaction have refused. In Sibir Energy have confirmed the fact of negotiations with Shell, having noticed that the company considers all possibilities which would allow it to expand business in Russia. Sibir discusses various variants with the different companies, including with Shell - it is told in the holding message.

oil recovery on Salymsky group of oil deposits (includes Western - Salymsky, Verhnesalymsky and Vadelypsky deposits) carries out Salym Petroleum Development, belonging on parity basis Shell and Sibir Energy. Stocks of deposits are estimated at a rate of a 850 million order barr. Oil. Investments into working out of Salymsky deposits into this year will make an order of 200-250 million dollars

According to analysts UniCredit Aton, the transaction conclusion on an exchange will allow Sibir Energy to double the volume of extraction and completely to load Moscow NPZ which capacity makes 120 thousand barr. A day, and consequently to raise profitability at the expense of manufacture of oil products. Proceeding from a prospective sum of transaction, for its payment Sibir Energy it will be necessary to let out about 166 million new actions at the price of 6 pounds sterling for the action therefore the share of the basic shareholder - Bennfield will be reduced with 47 to 33 %, the government of Moscow - to 13 %, and share Shell will make 30 %, experts mark.

Sibir Energy is the largest company which actions are quoted in the London Market of alternative investments, and most likely next year it will enter into an index 100 blue counters FTSE. Market capitalisation of the company makes 2,3 mlrd pounds sterling (4,8 mlrd dollars) . Net profit Sibir Energy in 2007 has increased in 3,3 times and has made 282,4 million dollars, the gain for the past year has increased by 68,3 % and has made 1,77 mlrd dollars

Getting package Sibir Energy, Shell can put a part of its stocks on the balance. Besides, at Sibir in Russia already there are industrial actives, that is Shell this purchase simply minimises the operational costs, having thrown them on the company g - on Chigirinsky, analyst IK " considers; Veles the Capital Dmitry Ljutjagin. In its opinion, the probability of sale of a share in Sibir is very great, as the company was initially created for the purpose of the further sale of the large vertically integrated oil company after a conclusion of its operational activity to standard indicators.

according to the director of department for judicial claims NKG 2 Audit - Business consultations Natalias Sviridovoj, Shell could consider that occurrence in a share of the company under control to the Russian shareholders, can help with the future in the decision of different administrative questions, and the main thing - to make position Shell in Russia stabler and reliable.

anyway present negotiations will be positive are estimated by the international community and will level reputation after problems which has faced in Russia BP a little.