Gazprom Neft-Shell three way partnership was created to ascertain a Sale and Purchase Agreement for a 50-percent curiosity within the authorised share capital of Meretoyakhaneftegaz in Yamal okrug. The deal is anticipated to be finalised in late 2019—early 2020 as soon as all vital company and regulatory approvals have been obtained, and all authorized preconditions met. Pursuant to the ensuing Shareholders Agreement the corporate will likely be managed by the companions on a parity foundation.
Meretoyakhaneftegaz presently holds licensing rights to the Meretoyakhinskoye discipline. Various license blocks at various levels of growth — the Tazovsky and Severo-Sambrugsky, in addition to two Zapadno-Yubileiny blocks within the Yamalo-Nenets Autonomous Okrug’s — will likely be mechanically transferred to the three way partnership’s asset portfolio as quickly because the transaction closes.
Total reserves in place at fields to be owned by Meretoyakhaneftegaz will stand at about 1.1 billion tonnes of oil.
Alexander Dyukov, Chairman of the Management Board, Gazprom Neft, commented: “This settlement marks the logical continuation of our profitable collaboration with Shell on quite a few ongoing initiatives. We see in Shell a dependable companion, with whom we’re prepared to mix skilled expertise, in addition to sharing monetary and technical sources, in growing main initiatives. As a part of this new settlement we will reveal the complete potential of what’s a significant hydrocarbon cluster in Yamal, viably and effectively. We will likely be investigating additional alternatives for implementing initiatives with Shell sooner or later, together with initiatives exterior of Russia.”
“This is one more milestone in our partnership with Gazprom Neft. Over the years, we have now constructed a trusted and fruitful relationship. Our Salym Petroleum Development three way partnership is an instance of how we are able to create a really environment friendly, modern and accountable oil producer by combining our strengths. Our historical past of success fills me with confidence that our new enterprise will even be nice success”, stated Ben van Beurden, Shell CEO. (Source and picture: Gazprom Neft/Drilling rig in Tazovsky space)

The submit GAZPROM NEFT-SHELL JOINT VENTURE TO DEVELOP FIELDS IN YAMAL appeared first on Energy Global News.

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