Company News: Multinationals active in exchanging property interests

08/04/2003
Multinational oil and natural gas companies are pursuing more property and equity deals.In addition, OAO Gazprom established a joint venture with BASF AG subsidiary Wintershall AG, creating the opportunity for a German company to produce Russian natural gas.The JV, named OAO Achimgaz, was established in Novy Urengoi in western Siberia to produce gas from the Achimov horizon of Urengoi field. The reserves, located within the Arctic Circle, are estimated at 200 billion cu m of gas and 40 million tonnes of condensate, BASF said.In other recent upstream news:The Croatian government accepted a $505 million bid by Hungarian oil company MOL PLC to buy 25% of Croatian state oil company Industrija...
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