Gazprom Neft, Shell to create JV to develop license blocks in Yamal

10/06/2019 08:26 Oil Market

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Total reserves in place at fields to be owned by the Meretoyakhaneftegaz JV will be nearly 1.1 billion tonnes of oil

Russian oil company Gazprom Neft has agreed to form a joint venture (JV) with Royal Dutch Shell, called Meretoyakhaneftegaz, to exploit 1.1 billion tonnes of oil reserves contained in the Yamal Peninsula in northwest Siberia.

 

The two companies have signed all required legal documents on a sale and purchase agreement for a 50% interest in Meretoyakhaneftegaz.

 

Currently, Meretoyakhaneftegaz owns licensing rights to the Meretoyakhinskoye field.

Source: nsenergybusiness.com

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