TNK-BP sells services unit to Weatherford

摘要

Moscow-TNK-BP has sold its oilfield services business to oil services major Weatherford International in an all-share deal as part of the Anglo-Russian oil producer's strategy to focus on core business, TNK-BP said May 29. In exchange for the business, TNK-BP will receive 24.3 million Weatherford shares with the price floor that "guarantees value over the next 12 months," TNK-BP said.