Britain-based Rockefeller Oil Company Plc will acquire upstream oil and gas assets in Russia from VTB Bank for around $1 billion, Russian business daily Kommersant reported on Thursday, April 4, citing sources.

It said the firm had agreed to buy 100 percent of private company Tekhneftinvest, which owns seven deposits with total reserves of 180 million tons of oil and 20 billion cubic metres of gas. The deal has not been completed yet.

VTB and Rockefeller Oil were not available for comment early on Thursday, Reuters says.