Gazprom Neft, the oil-producing arm of Russian energy giant Gazprom, has acquired 16.95% of Britain`s Sibir Energy, which operates in Russia, the British company said on Monday. Gazprom Neft has acquired 65.503 million ordinary shares of Sibir Energy to consolidate 16.95% of the company`s shares, the British firm said. Sibir Energy`s main assets include a stake of almost 50% in the Moscow refinery and also 50% in the Salym Petroleum Development joint venture with Shell. Gazprom Neft announced on Friday it had bought a minority stake in oil producer Sibir Energy, with the acquisition placing Gazprom`s oil arm in control of some 16% of Sibir Energy, with a market value estimated at just 675.5 million British pounds ($992 million). "Sibir Energy is a promising company with which we have been cooperating in oil processing at the Moscow Refinery," said Alexander Dyukov, Gazprom Neft board chairman.