OREANDA-NEWS. On August 04, 2009 Urals Energy, a small independent Russian oil company listed on the LSE, has ceded its East Siberian oilfield to Sberbank as repayment for its debt.

According to the company, one of its subsidiaries, oil company Dulisma, which holds a license to tap the huge Dulisminskoye oilfield, is to go to Sberbank to pay off the company’s USD 130 mn debt and also pay down its USD 500 mn debt.

The Dulisminskoe field is to be used as a resource base for the Eastern Oil Pipeline from Russia to Asia, which is currently under construction. Urals Energy plans to repay the rest of its debt to Sberbank with 35% of Taas-Yuryakh shares.

Taas-Yuryakh holds a license to tap the Srednebotuobinskoye oilfield, also considered as a resource base for the Eastern Pipeline.