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Advance Capital is pleased to announce the acquisition of a 62.3% stake in Uralneftegazprom from Stroytransgaz.

Uralneftegazprom is engaged in the development of several oil and gas fields in the Orenburg Region. The company’s total gas reserves amount to 24 billion cubic meters, while liquid hydrocarbons total 23 million tonnes. Recoverable reserves of the developed fields are estimated at approximately 5.8 million tonnes of oil and 1.4 thousand tonnes of gas condensate. Currently, the company produces around 3.1 thousand tonnes of condensate, 1.8 thousand tonnes of oil and 29 million cubic meters of gas per month.

Advance Capital acted as a financial advisor to the buyers, a consortium of investors.

The deal value is USD75 million.