Russo-U.K. oil venture OAO TNK-BP (TNBP.RS) now values its 62.8% stake in Rusia Petroleum, the operator of the Kovykta gas field, at $1 billion, the Vedomosti business daily cited TNK-BP part-owner Viktor Vekselberg as saying Thursday.
Russo-U.K. oil venture OAO TNK-BP (TNBP.RS) now values its 62.8% stake in Rusia Petroleum, the operator of the Kovykta gas field, at $1 billion, the Vedomosti business daily cited TNK-BP part-owner Viktor Vekselberg as saying Thursday.

TNK-BP agreed last summer to sell the stake to Russian gas monopoly OAO Gazprom (GAZP.RS).

"When we signed the deal we valued the stake at $700 million to $900 million, but we've since invested almost $200 million," Vekselberg told the paper.

The tycoon said he hopes the transaction will be closed within the next month. An unnamed source told Vedomosti that Gazprom now values the deal at between $800 million and $1.2 billion.

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