Page 13 - FSUOGM Week 49

FSUOGM INVESTMENT FSUOGM

Gazprom Neft seals JV deal with

Shell on Arctic exploration

RUSSIA RUSSIA’S Gazprom Neft has closed a deal to venture in July and Gazprom Neft’s board of
form a joint venture with Royal Dutch Shell to directors approved the transfer of the Leskinsky
Shell is Gazprom Neft's explore the northern Gydan Peninsula, while and Pukhutsyayakhsky licence to the company
main foreign partner. also announcing the acquisition of three new in late November.
Western Siberian licences. Gazprom Neft and Shell also agreed to
The pair’s 50:50 joint venture will explore work together on reducing greenhouse gas
and develop the Leskinsky and Pukhutsyayakh- (GHG) emissions and ensuring the safety of air
sky blocks on Gydan, estimated to hold 135mn transportation.
tonnes (990mn barrels) of oil equivalent. Both Meanwhile, Gazprom Neft also said it had
sites are remote and under-explored, and a dis- acquired licences to explore the Snezhny, Ledovy
covery at either could open up a new oil and gas and Kholodny blocks in the Kondinsky district
province, Gazprom Neft said. To date, only 2D of Khanty-Mansiysk. Khanty-Mansiysk is Rus-
seismic surveys have been undertaken at the sia’s oil-producing heartland.
blocks. Gazprom Neft said the blocks, which span
Shell is Gazprom Neft’s top foreign a total of 1,360 square km, have no recorded
investment partner. Their main joint ven- hydrocarbon reserves. Only 2D seismic sur-
ture is Salym Petroleum Development veys have been carried out at the sites in the
(SPD), which is exploiting several large oil- past. However, the blocks are located next to the
fields in Western Siberia. Gazprom Neft is Srednevayskoye, Severo-Vayskoye and Alexan-
eager to strengthen ties with Shell further, der Zhagrin oilfields, which form part of a new
having asked the Anglo-Dutch major to development that Gazprom Neft launched at the
team up at a number of other greenfield and end of July.
brownfield projects. Gazprom Neft’s licences will run for five
The partners agreed to form the Gydan joint years. ™

Week 49 09•December•2020 www. NEWSBASE .com P13