Russia's largest oil producer, Rosneft, agreed to buy oil services firm Targin from the Sistema conglomerate for up to 4.1 billion roubles (US$67.4 million), Rosneft said on Dec. 27 as it seeks to expand its own oil service business.

Rosneft said the number of drilling rigs will increase by 19% following the deal. (US$1 = 60.8200 roubles)