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Russia's Rosneft to acquire subsidiary of Canadian Trican Well Service

August 14, 2015, 16:39 UTC+3
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MOSCOW, August 14. /TASS/. Rosneft is acquiring the Russian subsidiary of Canadian Trican Well Service, the Russian oil major said on Friday.

The parties signed a framework agreement and related agreements on Rosneft’s acquisition of 100% participation interest in OOO Trican Well Service, the provider of high technology injection systems’ services for the purpose of production enhancement during development of conventional oil and gas resources.

The buyer has already obtained required permits of the Russian antimonopoly regulator. The parties plan to close the deal on August 20, 2015, according to terms of earlier executed agreements.

"Acquisition of an oilfield services asset from Trican Well Service Ltd will materially influence on distribution of roles of key players on the oilfield services market owing to access to advance technology solutions in the field of production enhancement, well completion and downhole treatment during development of conventional oil and gas resources," Rosneft said.

Trican Well Service Ltd is an international oilfield service company headquartered in Alberta, Canada.

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