Strengthening the home base: Rosneft's US$700 million acquisition in West Siberia
In April 2017, Rosneft acquired Kondaneft, which owns four greenfields next to the super-giant Priobskoye field. Rosneft's largest subsidiary Yuganskneftegaz operates the northern part of Priobskoye, allowing for development synergies. The Kondaneft assets also lie next to the unawarded Erginskoye field, which is scheduled for auction in summer 2017. Competition for the last large West Siberian field will be fierce and the acquisition should improve Rosneft's chances at the auction.