Eric Watkins
Senior Correspondent
LOS ANGELES, Feb. 17 -- Repsol YPF SA has agreed to purchase 10% interest in West Siberian Resources (WSR; formerly Vostok Oil Ltd.), a Swedish oil and gas firm active in Russia.
Repsol YPF will pay $90 million for the interest. WSR will use proceeds to fund its recently announced $140 million acquisition of ZAO Saneco, the company said (OGJ Online, Jan. 24, 2006).
Repsol said the agreement "contemplates an industrial partnership for the development of exploration projects in Russia."
Contact Eric Watkins at [email protected].
