Gazprom, Neft, Repsol, Shell to start Gydan drilling by Mar ‘20

ST.PETERSBURG, Jun 17 (PRIME) -- Russian oil producer Gazprom Neft, Repsol and Shell will start drilling of an exploratory well on the Gydan Peninsula until March 2020, Alexei Vashkevich, director of the geological exploration department of Gazprom Neft, told reporters on Monday.

“The region is new and logistic is very tough. If everything is okay by the end of the second quarter, we shall mobilize and drill depending on this,” Vashkevich said, adding that the start of drilling is planned close to March 2020.

Gazprom Neft, Repsol and Shell signed a memorandum to establish a joint venture to develop deposits on the Russian Gydan Peninsula in June. Gazprom Neft will have a 50% stake in the joint venture, Repsol and Shell 25% each. The deal will be closed in 2020 after attainment of corporate and regulatory approvals.

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