Gazprom Neft buys out Shell's stake in Salym Petroleum Development
Shell and Gazprom Neft signed the relevant documents in December, but the deal required the approval of the Russian authorities.
Gazprom Neft has completed the transaction to buy out Shell's 50% stake in the Salym Petroleum Development company, according to the Unified State Register of Legal Entities.
From March 3, 2023, GPN-Middle East Projects LLC holds 50% in Salym Petroleum Development LLC. Other 50% belong to OOO GPN-Salym Projects from September 2022, according to the register.
On February 17, Russian President Vladimir Putin authorized Gazprom Neft to buy 50% in Salym Petroleum Development from Shell: GPN-Middle East Projects LLC was allowed to acquire 50% of Khanty-Mansiysk Oil and Gas Union CJSC and 50% of Salym Petroleum Development LLC.
Shell and Gazprom Neft signed the relevant documents in December, but the deal required the approval of the Russian authorities.
About Salym Petroleum Development
Salym Petroleum Development (SPD) was formed in 1996 by the shareholders of Shell and the Russian oil company Evikhon (acquired by Gazprom Neft in the late 2000s). Shell Salym Development B.V. (part of Shell group) and OOO GPN-Salym Projects (a subsidiary of Gazprom Neft) owned stakes in SPD on parity basis.
Since 2003, SPD has been developing the Salym group of oil fields, which is located in the Khanty-Mansiysk Autonomous District. The design capacity of oil production at the project is 17,000 tonnes of oil per day, peak production was 8.4 million tonnes per year.
The total reserves of the project fields are estimated at 181 million tonnes in category B1 and B2. The accumulated investment in the project is 171 billion rubles ($2.26 bln).
Source
Gazprom Neft has completed the transaction to buy out Shell's 50% stake in the Salym Petroleum Development company, according to the Unified State Register of Legal Entities.
From March 3, 2023, GPN-Middle East Projects LLC holds 50% in Salym Petroleum Development LLC. Other 50% belong to OOO GPN-Salym Projects from September 2022, according to the register.
On February 17, Russian President Vladimir Putin authorized Gazprom Neft to buy 50% in Salym Petroleum Development from Shell: GPN-Middle East Projects LLC was allowed to acquire 50% of Khanty-Mansiysk Oil and Gas Union CJSC and 50% of Salym Petroleum Development LLC.
Shell and Gazprom Neft signed the relevant documents in December, but the deal required the approval of the Russian authorities.
About Salym Petroleum Development
Salym Petroleum Development (SPD) was formed in 1996 by the shareholders of Shell and the Russian oil company Evikhon (acquired by Gazprom Neft in the late 2000s). Shell Salym Development B.V. (part of Shell group) and OOO GPN-Salym Projects (a subsidiary of Gazprom Neft) owned stakes in SPD on parity basis.
Since 2003, SPD has been developing the Salym group of oil fields, which is located in the Khanty-Mansiysk Autonomous District. The design capacity of oil production at the project is 17,000 tonnes of oil per day, peak production was 8.4 million tonnes per year.
The total reserves of the project fields are estimated at 181 million tonnes in category B1 and B2. The accumulated investment in the project is 171 billion rubles ($2.26 bln).
Source