Austro International acquires a 10.4 percent stake in major Russian oil company.VANCOUVER, BC--(BUSINESS WIRE)--Sept. 5, 1995--Austro International Investment Corporation S.A. ("Austro") of Geneva Geneva, canton and city, Switzerland Geneva (jənē`və), Fr. Genève, canton (1990 pop. 373,019), 109 sq mi (282 sq km), SW Switzerland, surrounding the southwest tip of the Lake of Geneva. , Switzerland is pleased to announce the acquisition of 3,914,043 shares representing 10.4 percent of the share capital of Samaraneftegas ("Samara"). Samara is one of Russia's main oil production companies. According to Brunswick, who has been advising Austro on the Russian oil industry, it is estimated that Samara had in 1994 oil production of 175,000 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. (equal to an annual production of 64 million barrels) and two billion barrels of proven reserves. The main area of production is located in the Samara region 1,000 km. southeast of Moscow. Samaraneftegas is currently being acquired by the Yukos holding company of Russia. Austro belongs to the Lundin Group of oil and mining companies. The Group's main oil company is International Petroleum Corporation ("IPC (1) (InterProcess Communication) The exchange of data between one program and another either within the same computer or over a network. It implies a protocol that guarantees a response to a request. "), an independent Canadian oil and gas exploration and production company. Through its subsidiaries, IPC has large onshore and offshore holdings in Libya, Sudan, Eritrea, Oman, Malaysia, Papua New Guinea Papua New Guinea (păp`  ə, –y and Turkmenistan. Oil and gas reserves have so far been discovered and/or acquired by IPC in Oman, Malaysia, Papua New Guinea and Turkmenistan. The reserves located in Oman and Turkmenistan are being commercially produced whereas the reserves in Malaysia and Papua New Guinea are in the process of being developed. The acquisition of the Samara shares was brokered by ABB Aros Fondkomission AB, Stockholm, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the ABB Group. The seller was Promradtekhbank of Moscow. CONTACT: Adolf H. Lundin Adolf Henrik Lundin, (b. December 19 1932, Sweden – d. September 30 2006, Geneva, Switzerland), [1] was an independent oil and mining entrepreneur. Adolf Lundin earned an MSc degree in 1956 from the Royal Institute of Technology in Stockholm. , Geneva, Switzerland 011-41-22-311-74-88 011-41-22-310-39-96 (Fax) |
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