MOSCOW/ABU DHABI, March 6 The Russia-China
Investment Fund (RCIF) and Mubadala, Abu Dhabi's state fund, are
considering buying a minority stake in Eurasia Drilling Company,
Russia's largest drilling company by metres drilled, three
sources close to the talks told Reuters.
In 2015, Eurasia Drilling Company (EDC) delisted its shares
from the London Stock Exchange after a deal for the world's
leading oilfield services provider Schlumberger NV to
buy a stake in it collapsed.
One of the sources said that RCIF -- which was set up by two
Russian government-backed investment vehicles, the Russian
Direct Investment Fund and China Investment Corporation -- was
looking to team up with Mubadala to buy around 13-15 percent of
EDC's new shares.
EDC would use the proceeds from the potential deal, the
value of which the source did not disclose, for development.
Russia is the world's top oil producer, but the bulk of its
fields are ageing and require new technologies.
EDC is controlled by Chief Executive Officer Alexander
Djaparidze, who has a 30.2 percent stake, and his business
partner Alexander Putilov, who holds a 22.4 percent stake, the
latest public data, from the end of 2014, shows.
A spokeswoman for RCIF and a Mubadala spokesman declined to
comment. EDC did not reply to a Reuters request seeking comment.
(Reporting by Polina Nikolskaya, Katya Golubkova and Oksana
Kobzeva in Moscow and Stanley Carvalho in Abu Dhabi; Editing by