Governor of the Bashkortostan republic Rustem Khamitov has accepted the position of the board of directors deputy chairman of oil company Bashneft, located in the republic, Igor Sechin, CEO of Russian oil major Rosneft, which has recently bought half of Bashneft, said.
“I have turned to Rustem Khamitov with a request to enter the new board of directors of Bashneft. We’ve offered him to take the post of deputy chairman of the board of directors in this authority of the company. Naturally, this will require a (corporate) procedure. He has agreed”, Sechin said.
Sechin said that Rosneft highly valued the opinion of Khamitov and would pursue an effectiveness increase in Bashneft’s work.
“We have held a meeting with the executive board of Bashneft, attended by head of the republic Rustem Khamitov yesterday. We demonstrated clearly where we could raise effectiveness. He saw this, I think that he was pleasantly surprised by the figures which we showed and the goals which we set for these assets”, Sechin said, adding that the details of the partnership would be announced later.
Sechin separately said that it was too early to say whether Rosneft would purchase a 25% plus one share stake in Bashneft from the Bashkortostan government, or whether it would receive this stake to management.
Andrei Shishkin, vice president of Rosneft, was appointed president and CEO of Bashneft under a five-year agreement earlier in October. (Prime/Business World Magazine)