Report: CEO says Gazprom Neft, Shell to invest 130 bln rbl in JV

MOSCOW, Oct 2 (PRIME) -- Russian oil company Gazprom Neft and Shell plan to invest about 130 billion rubles in joint venture (JV) Meretoyakhaneftegaz, CEO of Gazprom Neft Alexander Dyukov told channel Rossiya 24 in an interview on Wednesday.

“Concerning the flagship project of our joint venture… the Tazovsky project, is 6.5 million tonnes of oil equivalent per year. Concerning investments, we plan to invest more than 130 billion rubles together,” Dyukov said, adding that the funds will be allocated in the first stage of the project.

Output of the project is to peak at more than 10 million tonnes of oil equivalent per year.

Work to close the deal is in progress. “We are sure that we will close the deal until the end of this year or the beginning of next,” Dyukov said.

Meretoyakhaneftegaz has a license for the Meretoyakhinskoye field. By the moment of the deal’s closure, the joint venture’s portfolio will also include licenses for the Tazovsky, Severo-Samburgsky, and two Zapado-Yubileiny blocks in the Yamalo-Nenets Autonomous District.

(65.0670 rubles – U.S. $1)

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