Gazprombank brought the 46 percent stake in Eriell in December 2011, but the information emerged only on Tuesday with the publication of the bank’s annual report. Founded in 1999, Eriell provides oil and gas exploration and drilling support services, predominantly to clients operating in the former Soviet Union.
According to Gazprombank’s annual report, the bank, Russia’s third largest in terms of pure assets, paid 3.7 billion rubles (approximately €95.14 million) for the stake. As a privately held company, Eriell does not issue information about ownership structure, though according to information in the Czech company register apart from private individuals, Rangemead Invest Ltd of the UK and Cyprus-registered Eriell Holding Company Limited were registered as stake holders in the past.
Founded in 1999 in Prague, Eriell lists Gazprom Neft, Lukoil, TNK BP and Russia’s largest oil firm in terms of proven reserves, Rosneft, among its partners. In addition to Russia, the firm also operates in Uzbekistan, Turkmenistan, Bulgaria, Czech Republic and Libya.
On Tuesday Gazprombank posted a net profit of 40.8 billion rubles for 2011, compared to 66.3 billion rubles for the previous year.
