Date: 4 days ago   Category: Energy

FAS excluded simultaneous coordination of transactions on entry of RDIF and Schlumberger into the capital of Eurasia Drilling — Rambler News Service


FAS excluded simultaneous coordination of transactions on entry of RDIF and Schlumberger into the capital of Eurasia Drilling, the deputy head of the Federal Antimonopoly Service (FAS) of Russia Andrey Tsyganov told RNS. "Now in an active phase there is a discussion only of the transaction of Schlumberger. Proceeding from it, the transaction which is connected with consortium will be later" — he told, answering a question of terms of approval of transactions. Tsyganov added that Schlumberger applies for the equity stake of Eurasia Drilling up to 50%, and RDIF with partners — for "about 20%". Earlier the head of the Federal Antimonopoly Service (FAS) of Russia Igor Artemyev said that department supports simultaneous entry of the American oilfield services company Schlumberger and consortium of the Russian Direct Investment Fund (RDIF) and Middle Eastern funds into the capital of Eurasia Drilling. On July 21, 2017 Schlumberger reported that it reached the agreement with Eurasia Drilling on acquisition of 51% of stocks of the company. On July 27 Schlumberger submitted the petition for purchase of 51% of Eurasia Drilling to the Federal Antimonopoly Service (FAS). On July 24 the head of department of control of foreign investments of FAS Russia Andrey Yunak reported to RNS that department received the petition from consortium RDIF, RKIF and Middle Eastern funds about prior approval of the transaction on purchase of a share in authorized capital of Eurasia Drilling. On December 19 the deputy head of FAS Andrey Tsyganov said that Schlumberger agreed to additional conditions of Russia upon purchase of Eurasia Drilling. On April 27, 2018 Tsyganov reported that Schlumberger does not apply for a controlling stake of Eurasia Drilling any more. On April 28 the government commission of Russia on foreign investments allowed the American oilfield services company Schlumberger to get previously a share in Eurasia Drilling Company (EDC) at the rate from 25% plus one action up to 49%. At the same time the pravkomissiya charged to FAS to hold the corresponding negotiations with the Schlumberger company on terms of transaction.

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