PJSC LUKOIL and PJSC Gazprom Neft concluded sale and purchase
agreement for 50% equity share of Meretoyakhaneftegaz LLC, a
Gazprom Neft wholly owned subsidiary. The contract was signed as part
of creating a joint venture to develop a large oil and gas cluster in
the Nadym-Pur-Tazovsky area of the Yamal-Nenets Autonomous District.
The transaction value amounts to RUB 52 bln,
including cession of claim of Gazprom Neft's loans worth RUB 35
bln. The companies also agreed upon the programme of additional
exploration of the blocks of Meretoyakhaneftegaz LLC where
RUB 8.9 bln of expenditures will be financed by LUKOIL.
The transaction is planned to be completed in 2022
after fulfilment of a number of conditions precedent, including all
necessary corporate approvals, as well as the consent of the Federal
Antimonopoly Service.
Information
In
September 2021, PJSC LUKOIL and PJSC Gazprom Neft concluded an
agreement on creating a joint venture based on Meretoyakhaneftegaz
LLC. The Tazovskoye oil and gas condensate field, which was put
on-stream in June 2021, will be at heart of the new production
area.
The venture is also to develop the Severo-Samburgskoye
and Meretoyakhinskoye fields, as well as two Zapadno-Yubileiny
license blocks.
The cluster’s total reserves initially in
place stand at over a billion tonnes of oil and about 500 bcm of
gas.
CONTACT INFORMATION
Press Centre PJSC "LUKOIL"
media@lukoil.com
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https://www.lukoil.com
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