Gazprom Neft to Form Joint Venture With Shell in Northwestern Russia

Date : 06/06/2019 @ 3:14PM
Source : Dow Jones News

Gazprom Neft to Form Joint Venture With Shell in Northwestern Russia

Shell 'A' (NYSE:RDSA)
Historical Stock Chart

6 Months : From Mar 2019 to Sep 2019

Click Here for more Shell

By Oliver Griffin

 

Gazprom Neft (SIBN.MZ) on Thursday said it has signed an agreement with Royal Dutch Shell PLC (RDSB.LN) to create a joint venture for the development of license blocks in Yamal in northwestern Russia.

The company said it and Shell have reached a sale and purchase agreement for a 50% interest in the authorized share capital of Meretoyakhaneftegaz, which currently holds licensing rights to the Meretoyakhinskoye field.

Gazprom Neft said the deal is expected to be finalized in late 2019 to early 2020, once all the necessary approvals are received.

Alexander Dyukov, chairman of Gazprom Neft's management board, said his company will be investigating further opportunities for implementing projects with Shell in future, including outside of Russia.

Total reserves in place at fields to be owned by Meretoyakhaneftegaz will stand at about 1.1 billion metric tons of oil, Gazprom said.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

 

(END) Dow Jones Newswires

June 06, 2019 09:59 ET (13:59 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest RDSA Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.