Russian oil producer Rosneft has closed a deal to acquire a 35.3% stake in Taas-Yuryakh Neftegazodobycha project in East Siberia for $444m from Sberbank.

Taas-Yuryakh Neftegazodobycha holds oil production licences for the Srednebotuobinsk oil and gas condensate deposit, located 160 km north of the ESPO crude pipeline.

C1 category oil reserves are estimated to stand at 90.9 million tonnes and C2 category reserves at 38.9 million tons.

Until 2009, Urals Energy held a 35.3% stake in Taas-Yuryakh, which was later handed over to Sberbank Capital to cover overdue loans.

The remaining stakes are held by Yakut Energy at 37.4% and Finfund at 16.8% and Limenitis Holding at 10.5% with the latter being part of the Ashmore Investment Management Group.