Repsol to Acquire Russia's Eurotek

摘要

Repsol has agreed to acquire 100% of Russia's open joint stock company Eurotek, which holds exploration/production licenses in West Siberia. Repsol will pay $230-million for Eurotek on a debt-free cash-free basis. Among the acquired assets, there are two licenses, encompassing the Syskonsyninskoye gas field, which is at an advanced development stage, starting production in 2012; and the Yuzhno-Khadyryakhinskoye gas field, which is under the final stage of appraisal and planned to come on-stream by 2016.