Swedish WSR acquires Russian oil explorer Nortoil

摘要

London-Sweden-based explorer West Siberian Resources has bought the Russian oil explorer Nortoil for 115 million, adding a further 138.9 million barrels to its oil reserves in Russia, WSR said November 3. Nortoil holds the license to develop the Kolvinskoye oil field in the Timan-Pechora region of northern Russia, which has proven and probable oil reserves of 138.9 million barrels under Russian classification. "Following significant field development, the acquired assets are expected to produce approximately 25,000 b/d," WSR said in a statement.