PRESS: SOCAR may buy Antipinsky Refinery from New Stream

MOSCOW, Apr 5 (PRIME) -- Azerbaijan’s oil and gas company SOCAR may buy Antipinsky Refinery and oil fields from Dmitry Mazurov’s New Stream, Kommersant business daily reported Friday citing sources.

The deal may be closed by the end of the year, while principal agreements have already been reached, sources said.

SOCAR is expected to buy the entire refinery and New Stream’s oil producing assets – the Mogutovskoye and part of the Gremyachevskoye and Vorontsovskoye oil fields in the Orenburg Region.

Mazurov holds 80% in Antipinsky Refinery through Cyprus-based Vikay Industrial, while the remaining stake is held by Nikolai Yegorov, who has been long seeking to sell the asset, the daily said.

SOCAR is expected to pay a token amount for the refinery with a debt of U.S. $3 billion, the daily said.

A spokesperson for SOCAR said the company is regularly analyzing the market, but has no investment decision over Antipinsky Refinery and Russian oil fields. New Stream declined to comment.

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