TNK-BP is Russia’s No.3 oil producer and BP’s 50 percent stake in it, estimated to be worth about $30 billion, is one of the biggest foreign investments ever made in the country.
BP is determined to push ahead with the sale of a stake in its troubled Russian venture, dismissing a threat by its billionaire partners to block a deal that would help the Kremlin tighten its grip on the country’s vast energy sector.
Asked if Gazprom was interested in taking a stake in TNK-BP or was studying the possibility, Alexander Medvedev, deputy chairman of the company’s management committee, said, “No”.
The company is generally interested in good projects, Medvedev said, adding that it would wait to see the details of plans to sell the stake in TNK-BP.
The British oil major said last week it would pursue a sale after receiving expressions of interest in its TNK-BP stake, a shareholding analysts say is worth about $30 billion.
Sources familiar with the matter said BP had been approached by state energy holding company Rosneftegaz, which controls a stake of more than 75 percent in Rosneft (ROSN.MM), Russia’s largest oil firm.
Reporting by Luke Pachymuthu; Writing by Manash Goswami; Editing by Clarence Fernandez