OREANDA-NEWS. August 26, 2011. The Federal Antimonopoly Service (FAS Russia) and “Total Razvedka Razrabotka Yamal” concluded an agreement in accordance with the Law on foreign investments to strategic companies, reported the press-centre of FAS Russia.

On 20th July 2011, the Government Commission for Control over Foreing Investments in the Russian Federation arrived to a decision that it would be possible to grant a preliminary approval of the transaction of the French company acquiring the rights to directly control voting shares that form the authorised capital of “Yamal SPG” OJSC, which is an entity of strategic importance and exploits a federal subsoil area, if FAS Russia, as the body authorised to control foreing investments, conclude an agreement with the company.

French “Total Razvedka Razrabotka Yamal” is a member of the group of companies of a French oil-and-gas company “Total S.A.”, which has the forth position in the world by oil production after “Royal Dutch Shell”, “BP” and “ExxonMobil” and is one of largest global companies in terms of market capitalization. “Total S.A.” conducts operations in more than 130 countries around the globe and is a public company, listed on Paris and New York Stock Exchanges.

Based on the agreement between FAS Russia and French “Total Razvedka Razrabotka Yamal”on the company’s fulfilling its obligations imposed under No.57-FZ Federal Law, the antimonopoly authority granted a preliminary approval of the petitioned transaction.

“We are satisfied with the cooperation with “Total Razvedka Razrabotka Yamal” in course of petition consideration, which enabled us to finalise all necessary procedures within the statutory period and make sure that this major transaction takes place” said Deputy Head of FAS Russia, Andrey Tsyganov.