RussNeft to Appeal Court Ruling on Former YUKOS Asset
28 Apr 2009
Prime-TASS Energy Service
RussNeft announced that it planned to appeal a court ruling that transferred the company's share in the Zapadno-Malobalykskoye oil field, a former YUKOS asset, to a Rosneft subsidiary.
The appeal comes after the Moscow Arbitration Court ruled against RussNeft on April 23 regarding its 2005 purchase of Zapadno-Malobalykskoye, which the court ruled as illegal. RussNeft has given an estimate of the recoverable reserves of the field of around 25 million tonnes of oil.