"The presence of Saudi Aramco from Saudi Arabia among investors from the Middle East made investors anxious."
Foreign investors, including the American Schlumberger, do not give up trying to acquire the Russian oil service company Eurasia Drilling Company. During the Saudi King's visit to Moscow, a joint investment fund, which includes the Russian Direct Investment Fund (RFPI), the Russian-Chinese Investment Fund (RCIF) and Middle Eastern investors offered to invest $ 150 million in this company.
However, the presence among investors from the Middle East of the Saudi Aramco company from Saudi Arabia caused concern among investors. According to the publication, the appearance of Saudi Arabia, which was not previously present in the Russian energy market, aroused suspicion that the Saudi company could work in unison with the American Schlumberger in order to occupy a dominant position in the Russian oilfield services market.
Currently, two large investors are applying for the Eurasia Drilling Company. The most significant offer came from the American Schlumberger, the second time trying to conclude a deal to buy a 51 percent stake in Eurasia Drilling. The legality of such a transaction must be confirmed by the Federal Antimonopoly Service of Russia (FAS), which expressed certain concerns.
FAS head Igor Artemyev said that the potential acquisition of this controlling stake by this American company "is regarded as extremely doubtful." The second proposal came from a joint fund involving RFPI, RCIF and Middle Eastern investors, including Saudi Aramco. they are ready to invest $ 150 million in Eurasia Drilling.
But this deal was in jeopardy partly due to the fact that it could cause "destabilization" of Russian markets serving the oil industry. The main concern of market players is that such a transaction will seriously change the situation in the energy sector and significantly strengthen the foreign presence in the domestic energy market.
