Nobel Oil Group
From Taighde
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The Nobel Oil Group is a oil company based in Russia. Russian shareholders own 50% of the company. The China Investment Corporation controls 45% of the company with Oriental Patron owning the remaining 5%.
The China Investment Corporation invested $300 million into the company. The investment has been split in two separate phases. The first, which consists of $150 million, will be used for purchase $100 million for a 45% equity stake. The remaining $50 million will be used for support Nobel's operating expenses. The first phase was completed on October 15, 2009. The second phase of $150 million will be used for acquiring and developing oil reserves assets of approximately 150 million barrels. This funding must be used within nine months.
