Gazprom, BP Delay Signing Kovykta Deal - Report
MOSCOW (Dow Jones)--Russia's natural gas monopoly OAO Gazprom and BP PLC will delay signing of Kovykta deal, the news agency Interfax reported Thursday, quoting a Gazprom representative.
The sides will delay the signing of an agreement on the sale of 62.8% of Rusia Petroleum, which holds the license to the giant Kovykta gas field in the Irkutsk region, and 50% of East Siberian Gas Company, Iterfax reported.
"We don't plan to sign anything before Dec. 1," the agency cited Gazprom's spokesman as saying.
At the time the deal was announced, BP said Gazprom would pay between $700 million and $900 million for the acquisition, while the Russian company's Deputy Chief Executive Alexander Medvedev said it was prepared to pay $600 million-$800 million.