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Germany’s antimonopoly regulator approves BP’s request to buy stake in Rosneft subsidiary

The decision is dated January 13

BERLIN, January 15. /TASS/. Germany’s federal antimonopoly authority Bundeskartellamt approved a request of UK-based BP for purchase of a stake in Kharampurneftegaz, a subsidiary of the Russian oil producer Rosneft, the regulator said on its website.

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The resolution is dated January 13.

Rosneft reported earlier that the company plans to produce 11 bln cubic meters of gas at the first phase of the Kharampurskoe Field development jointly with BP. Kharampurneftegaz company was created for development of this field. Project investments will be implemented jointly and Rosneft will market produced gas on the domestic market. Rosneft will retain the stake of 51% in the project and BP will have the share of 49.

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