BAKU, Azerbaijan, July 2. Russneft Public Joint Stock Company (PJSC) has updated its list of affiliated entities, excluding companies that control assets in Azerbaijan, Trend reports via the company.
Russneft PJSC has ended its affiliation with British Virgin GEA Holdings Ltd, which was involved in several contracts with the State Oil Company of the Republic of Azerbaijan.
Russneft has been involved in the development of the Absheron, Binagadi, Neftchala, and Shirvan oilfields through its GEA subsidiary.
Additionally, four companies from the Cayman Islands are excluded from Russneft's structure: Kura Valley Holdings Ltd. and Karasu Operating Company, which were mentioned in the late 2000s as operators of the Azerbaijani Padar-Kharami blocks (Russneft relinquished the Padar block in 2019) and Mishovdag-Kelameddin, respectively, as well as Karasu Petroleum Company and Karasu Development Company.
With the renunciation of its assets in Azerbaijan, Russneft no longer holds any foreign production assets.
Russneft's actions may be related to international sanctions against its management.
Stay up-to-date with more news at Trend News Agency's WhatsApp channel