Neft and Repsol are growing a three way partnership to conduct geological exploration at six license blocks within the Karabashsky zone of the Khanty-Mansi area in Western Siberia.
The three way partnership can be established via Karabashsky-6 LLC, owned by Gazprom Neft, which holds geological prospecting licenses to 6 blocks within the south—west of the Khanty-Mansi Autonomous Okrug. Repsol will purchase a 50.1-percent share within the firm’s fairness as soon as each events have fulfilled all circumstances precedent below the contract, together with securing company approvals. Under the phrases of the Shareholders Agreement the three way partnership can be managed by each events, on an equal footing.
The three way partnership will maintain the rights to the Karabashsky-17, ?18, ?19, ?25, ?26 and ?27 blocks, collectively protecting a complete space of roughly 1,600 sq. kilometres. All of those are positioned within the Kondinsky District of the Khanty-Mansi Autonomous Okrug, and all are marked by very restricted ranges of geological investigation. Promising property adjoin these websites, licenses for that are held by different Gazprom Neft and Repsol joint ventures: Evrotek-Yugra and ASB Geo. Synergies with new territories will permit the companions to ascertain a significant exploration — and subsequently oil-production — cluster within the Karabashsky zone of the Khanty-Mansi Autonomous Okrug.
Preparations for geological prospecting at six Karabashsky blocks have been began in 2019, with 2D seismic works deliberate for 2020. The operator on this challenge is Evrotek-Yugra, which has knowledgeable group with in depth expertise and expertise in geological prospecting works throughout the Karabashsky zone.
(Source and picture: Gazprom Neft)
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