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Rosneft closes acquisition deal from Weatherford

Oilfield Technology,

Rosneft has announced the close of the deal for the acquisition of land drilling and workover assets of Weatherford in Russia and Venezuela.

The closure marks the realisation of the agreement signed in July 2014 by Rosneft and Weatherford International plc.

Rosneft acquires eight companies (part of the Weatherford group) involved in drilling operations in Russia and Venezuela.

The realisation of the deal will allow Rosneft to strengthen its positions on the market of drilling and workover services and will expand the array of service contractors which will enable to boost efficiency of drilling and hydrocarbons production, enhance financial results.

Adapted from press release by Hannah Priestley-Eaton

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