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Skagen says deal between Russia’s Rosneft, Surgut possible

June 11, 2014, 16:06 UTC+3 MOSCOW

Skagen’s representative Trygve Meyer said that “Surgutneftegas has money, which means the company can spend it”

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MOSCOW, June 11./ITAR-TASS/. Norway’s investment fund Skagen, which owns shares of Russian oil company Surgutneftegas, does not rule out a deal between it and state-owned oil major Rosneft, the fund said in a report on Wednesday.

Skagen said that Surgutneftegas had accumulated about $33 billion on its accounts.

“They can allocate the funds for a new large oil deposit or carry out a deal with Rosneft. Both scenarios would be taken positively,” the report said.

Skagen’s representative Trygve Meyer told ITAR-TASS that the company has no more detailed analysis of the issue, or of the possibility of such a scenario.

“This supposition is based on rumours that circulate around the fact that Surgutneftegas has money, which means the company can spend it,” he said.

“Possible scenarios of cooperation of the two companies have been discussed for many, many years.”

Rosneft declined to comment.

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