DGAP-News: Sberbank: Taas RN-SB

EquityStory.RS, LLC-News: Sberbank / Key word(s): Miscellaneous
Sberbank: Taas RN-SB

06.02.2012 / 11:30

———————————————————————

ROSNEFT AND SBERBANK REACH AGREEMENT IN PRINCIPLE ON TAAS-YURYAKH PROJECT

February 02, 2012, Moscow: Rosneft and Sberbank signed a tentative
agreement on the acquisition by Rosneft of a 35.3 percent stake in
Taas-Yuryakh Neftegazodobycha.
Taas-Yuryakh Neftegazodobycha holds production licences for the
Srednebotuobinsk oil and gas condensate field, which is situated 160 km
north of the ESPO pipeline. Recoverable oil reserves of the field are
estimated at 90.9 million tonnes of C1 and 38.9 million tonnes of?2
category. Due to its size the field was put on the list of Fields of
Federal Importance on March 18, 2010. The deal price was set at $444
million, which equals to the historical cost incurred by Sberbank.
–The acquisition is a major step forward in strengthening Rosneft–s
world-class reserve base in Eastern Siberia and ensuring deliveries to the
Eastern Siberia – Pacific Ocean pipeline. Together with the Yurubcheno-
Tokhomsk field, these projects will form the foundation of the Company–s
East-Siberian production cluster within the next few years. After closing
the deal with Sberbank, Rosneft will be working with other shareholders of
Taas-Yuryakh Neftegazodobycha to ensure the success of the project. The
company will also reach out to federal authorities to make sure that
necessary fiscal conditions are in place for the project to be profitable,–
said Rosneft President Eduard Khudainatov.
Commenting on the agreement, Herman Gref, President and Chairman of the
Management Board at Sberbank said: –We are glad to see the Srednebotuobinsk
project gain a strategic investor. I am certain that we will keep working
with Rosneft to expand our cooperation – on this project and beyond.–

Background
Until 2009, the 35.3 percent stake in Taas-Yuryakh Neftegazodobycha was
held by Urals Energy, which in the course of the financial crisis in
2008-2009 had to hand over the asset to Sberbank Capital to cover overdue
loans. The remaining stakes are held by Yakut Energy Limited (37.4 percent)
and Finfund Limited (16.8 percent) as well as Limenitis Holding Limited
(10.5 percent). The latter is part of the Ashmore Investment Management
Group.

Rosneft Information Division Sberbank
Public Relations Department
Tel: +7 (495) 411-54-20 Alexander
Basiyan
Fax: +7 (495) 411-54-21 Tel: +7
(495) 957-57-21
www.rosneft.ru
media@sberbank.ru

End of Corporate News

———————————————————————

06.02.2012 Dissemination of a Corporate News, transmitted by
EquityStory.RS, LLC – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

EquityStory.RS, LLC–s Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

———————————————————————

Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
RussiaPhone: +7-495-957-57-21
E-mail: media@sberbank.ru
Internet: www.sberbank.ru
ISIN: US80585Y3080, RU0009029540, RU0009029557
Listed: Foreign Exchange(s) MICEX, RTS

End of News EquityStory.RS, LLC News-Service
———————————————————————
155502 06.02.2012

  sberbank-taas-rn-sb