"Coordination of the deal will be submitted to the board of directors of Gazprom for consideration," the press release reads.
"The sale to Gazpromneft changes nothing in the Gazprom strategy of development in the oil sphere, produces no effect on carrying out the deal to increase the state's share in the Gazprom authorized capital, nor the decision to liberalize the Gazprom stock market," the communique reads.
Gazpromneft was established during the second stage of the Gazprom reform, intending consolidation of the concern's kinds of business in independent legal persons. The decision to set up a 100-percent subsidiary was taken on October 29. Rosneft CEO Sergei Bogdanchikov was appointed general director of Gazpromneft.
Its basic activities were expected to be the production of oil and gas condensate, their transportation and keeping.
In 2003 Gazprom produced 11 million tons of oil and gas condensate. In 2004 the production of liquid hydrocarbons is expected to stand at 11.8 million tons.
Chairman of the Gazprom board of directors Dmitry Medvedev earlier told RIA Novosti that the establishment of Gazpromneft would increase the efficiency of Gazprom as a vertically integrated company.
"The goal of setting up OOO Gazpromneft is to enhance the efficiency of OAO Gazprom as a vertically integrated company and optimize management of its basic activities," he specified.
On December 19 Gazpromneft partook in the auction to sell 76.79 percent of Yukos' production asset Yuganskneftegaz. However, Gazpromneft rejected further bidding after Baikalfinancegroup offered 0.5 billion dollars above the starting price, which stood at approximately 8.6 billion dollars.
