Page 14 - FSUOGM Week 29
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FSUOGM INVESTMENT FSUOGM
Northwest Gydan.
Source: Gazprom Neft
website.
Gazprom Neft, Shell firm up
Arctic oil and gas project
RUSSIA RUSSIA’S Gazprom Neft and Royal Dutch Shell country of strategic focus for Shell,” Shell’s coun-
have firmed up plans to develop two licence try chair for Russia, Cederic Cremers, added.
blocks on Russia’s northern Gydan Peninsula, “We welcome the expansion of our co-operation
the former reported on July 21. with Gazprom Neft, our reliable and highly pro-
The pair have agreed to form a 50:50 joint fessional long-term partner.”
venture for studying and developing the two Shell is Gazprom Neft’s top foreign invest-
blocks, Leskinsky and Pukhutsyayakhsky, with ment partner. Their main joint venture is
the transaction due to be closed this year once Salym Petroleum Development (SPD), which
corporate and regulatory approvals are secured. is exploiting several large oilfields in Western
The deal builds on a memorandum on the pro- Siberia. Gazprom Neft is eager to strengthen
ject which Gazprom Neft and Shell signed last year. ties with Shell further, having asked the Anglo-
According to that document, Shell was only to take Dutch major to team up at a number of other
a 25% stake in the blocks, while Spain’s Repsol was greenfield and brownfield projects.
expected to acquire a further 25%. Gazprom Neft Shell had been lined up to partner with Gaz-
would retain the remaining 50% interest. prom Neft at the Meretoyakhinskoye oilfield in
“Exploration of the Gydan blocks is among Western Siberia, but opted out of the project in
Gazprom Neft’s strategic objectives, so changes April.
in the market conditions have not affected our Russia places the D1+D2 resources at Leskin-
plans,” Gazprom Neft deputy CEO Vadim Yak- sky and Pukhutsyayakhsky at 135mn tonnes of
ovlev said in a statement. oil equivalent. Leskinsky spans over 3,000 square
A discovery in the area could establish a new km, while Pukhutsyayakhsky covers more than
oil and gas province, he said. 800 square km. 2D seismic surveys have been
“Despite the economic uncertainties and undertaken at both sites, and the plan is to com-
pressure on our industry, Russia remains a mence drilling later this year.
P14 www. NEWSBASE .com Week 29 22•July•2020
