Texas Oil Company Sues Gazprom Over Russian Gas Field Ownership

By: AP
By: AP

BERLIN (AP) - The German subsidiary of Fort Worth-based Moncrief
Oil is suing Russian energy giant OAO Gazprom over ownership rights
to a Siberian gas field bought in the late 1990s.
Moncrief Oil International says it filed the lawsuit in a
Tarrant County state district court in Fort Worth over Gazprom's
use of confidential information in a 2005 lawsuit. That previous
suit was thrown out of court.
Moncrief says it obtained 40 percent exclusive ownership of the
Yuzhno Russkoye gas fields from Gazprom.
In exchange, it provided the Russian energy conglomerate with
know-how and business plans. The value of the stake is estimated at
around 8½ billion dollars.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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