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Exec assesses TNK-BP/Rosneft merger synergy at $12 bln

June 20, 2013, 12:44 UTC+3
Previous assessments stood at $3.5 billion - Rosneft President Igor Sechin
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ST. PETERSBURG, June 20 (Itar-Tass) - Synergic effect of a merger of the TNK-BP corporation with Russia’s oil industry major, Rosneft, is estimated at $ 12 billion, Rosneft President Igor Sechin told an annual general meeting of shareholders here Thursday.

He indicated that the previous assessments stood at $3.5 billion.

According to Sechin, as much as 60% of the synergic effect will pay back already in the next few years.

He told the shareholders that the TNK-BP’s integration with Rosneft has been completed on the whole.

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