V.Semashko: “We conduct negotiations with “Rosneft” and “Lukoil” and their accession to “Naftan” in the capacity of strategic investors is being discussed”

Belarusian government is aimed at selling a holding of shares of oil processing JSC “Naftan” to Russian companies NK “Rosneft” and NK “LUKOIL” in exchange for strategic investments.

Belarusian government is aimed at selling a holding of shares of oil processing JSC “Naftan” to Russian companies NK “Rosneft” and NK “LUKOIL” in exchange for strategic investments.

According to first vice-premier of Belarus Vladimir Semashko at the meeting of national council on work and social issues in Minsk, “I make no secret that we conduct negotiations with “Rosneft” and “LUKOIL”, their accession to “Naftan” in the capacity of strategic investments are expected”.

At the same time V.Semashko underlined that the strategic investor must guarantee not only capital investment into oil processing plant but also have export markets, fulfill social liabilities and be ready to implement modern technologies at the enterprise. “But we cannot find such an investor yet, and we need independently modernize our oil processing enterprises”, - said first vice-premier.

He said that Belarusian Oil processing plants (JSC “Naftan” and JSC “Mozyr NPZ”) invest $150 200 mln into modernization annually. As a result it is expected that the depth of oil processing will make up 92 93% by 2013 against 70 72% that is observed at present.

First vice-premier added that recently he conducted negotiations with one of the largest foreign companies that is ready to become an investor of Minsk automobile factory.