Gazprom Neft, Shell file bid to create JV Meretoyakhaneftegaz

TYUMEN, Oct 10 (PRIME) -- Russian oil company Gazprom Neft and Royal Dutch Shell have filed a request to the Federal Antimonopoly Service to create joint venture Meretoyakhaneftegaz, which they hope to close in late 2019 or early 2020, Gazprom Neft’s First Deputy CEO Vadim Yakovlev told reporters on Thursday.

“We filed a request to the service. We prepared these solutions for approval of the boards of directors of Gazprom Neft and Gazprom. We are now working to get corporate approvals until the end of the year. We also need to get a decision of the government’s commission for foreign investment control,” he said.

“We expect to close the deal at the end of this year or at the beginning of next year,” he said.

Gazprom Neft signed an agreement to sell 50% in Meretoyakhaneftegaz to Shell during the St. Petersburg International Economic Forum in June. The joint venture will develop licese sites in the Yamalo-Nenets Autonomous District.

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