According to West Siberian Resources, the combined group will have production of close to 51,000 barrels per day, refining capacity of 70,000 barrels per day, a network of 255 gas stations and 24 wholesale oil terminals.
As a result of the merger, Alliance Oil will become a wholly owned subsidiary of West Siberian Resources (WSR). Following the merger, WSR will reportedly become the only fully integrated oil company listed on the OMX Nordic Exchange in Stockholm, Sweden.
Members of the Bazhaev family, who currently control Alliance Oil, will become the largest shareholders in the combined group ultimately holding 60% of the fully diluted share capital post completion of the merger.
