"Bashneft" Board of Directors confirmed the structure of oil-service holding
Joint Stock Oil Company Bashneft confirmed the structure of oil-service holding. The decision was accepted on the last Board of Directors of the company.
The holding is formed on the basis of LLC «Bashneft-Service Assets» and will include at the first stage eleven oil service organisations which represent five segments of services. Among them there is drilling, current and major repairs of wells, manufacture of oil-field equipment and machinery, transport and construction, the Bashneft press-service informs.
Besides, within the limits of the holding formation the Board of Directors approved a number of transactions in which result LLC «Bashneft-Service Assets» becomes the supervising participant in several service organisations. In the long term the enterprises included in the oil service holding will be withdrawn from JSOC Bashneft to develop competitive environment corresponding to the world branch practice.
The Board of Directors also made a decision to terminate the powers of the member of JSOC Bashneft’s Board, the first vice-president on processing and commerce Ali Uzdenov after his transition to another job. Maxim Andriasov, Bashneft vice-president on regional sales is approved as a candidate for a post of the first vice-president on processing and commerce. Besides, Maxim Andriasov is included in the structure of the Company’s Board.