Business Career
After the collapse of the Soviet Union, Bogachyov grew wealthy participating in the privatization of Russia's natural resources.
In 1992 he earned his first money by investing in oil with Xavier Corp. He earned $2,000,000 from that deal. Later, he bought several oil fields in West Siberia and consolidated them into Khanty Mansiysk Oil Corporation (KMOS). In 2003, he and his partners sold KMOS to Marathon Oil for roughly $300,000,000. In 1995 he bought a port in Novorossisk and has become a CEO of Novorlesexport, a wood transporting company. He recently sold his shares in that firm to Kerria Oil for 800 million dollars. Bogachyov then purchased natural gas fields all over Russia.
The growth of Tambeyneftegaz brought Bogochyov into conflict with Gazprom bank officials over control of certain gas fields. The conflict has been temporarily settled by his allocation of his interest in those fields to Gazprom. In January, 2007 Nikolay Bogachev was forced to sell his company to Gazprom for about a 10th of its value. Same year Bogachev founded "Young Energy Prize" and is now devoting all of his time to his new creation. Through this vehicle he owns a considerable stake in Magellan Petroleum Corporation, a stranded gas / energy resource developer with interests in Australia, the United Kingdom, and North America. In Australia, his focus is the development of substantial discovered natural gas reserves into Asian market growth.
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