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Russia's Rosneft agrees to buy oil services firm Targin for up to 4.1 bln rbls

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Reuters MOSCOW

MOSCOW (Reuters) - Russia's largest oil producer Rosneft has agreed to buy oil services firm Targin from Sistema conglomerate for up to 4.1 billion roubles ($67.4 million), Rosneft said on Monday, as it seeks to expand its own oil servicing business.

Rosneft said the number of drilling rigs will increase by 19 percent following the deal.

($1 = 60.8200 roubles)

(Reporting by Vladimir Soldatkin; editing by Katya Golubkova)

 

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First Published: Dec 26 2016 | 8:27 PM IST

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