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OJSC RITEK Explored a New Oilfield in iDeals™ VDR

January 09, 2013


The Virtual Data Room for successful M&A deal of the OJSC RITEK (Russian Innovation Fuel and Energy Company) [1] was maintained by iDeals™ Solutions. In the course of it, the RITEK, a subsidiary of the LUKOIL Group – one of the Top 20 Oil&Gas companies in the world, has acquired 100% of the capital stock of OOO Mushakneft’ (Udmurtia, Russia).

By this acquisition the RITEK also became the owner of Mushakskoe oilfield, which was explored in 1993 and has a flow rate of 5 cu. m. per day. The RITEK is mainly focusing on increase of oil output by applying innovative extraction techniques, which enable them to resume operations on abandoned and hard-to-recover oilfields.

iDeals™ Solutions, in turn, has added one more commodity market Project into their rich portfolio.

[1] http://www.ritek.ru/node/1219


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