POST Online Media Lite Edition


Gazprom Neft and Shell launch JV for hydrocarbon development

Christian Fernsby |
Gazprom Neft and Shell have signed an agreement to establish a joint venture to study and develop the Leskinsky and Pukhutsyayakhsky license blocks on the Gydan Peninsula.

Article continues below


Following completion, the partners will each have a 50% interest in the capital of the joint venture.

The joint venture will be managed by Gazprom Neft and Shell on a parity basis. Closing of the transaction is scheduled for 2020 after the receipt of necessary corporate and regulatory approvals.

The Leskinsky license block is located in the Taymyr district of the Krasnoyarsk Krai. It covers an area of over 3,000 square kilometers. Its hydrocarbon resources may exceed 100 million tons of oil equivalent.

Adjoining the Leskinsky block, the Pukhutsyayakhsky block, which covers an area over 800 square kilometers, is located in the Tazovsky district of the Yamal-Nenets Autonomous Okrug. Its resources are estimated at around 35 million tons of oil equivalent. At the first stage, Gazprom Neft-GEO will be the operator of exploration works in the Leskinsky and, the Pukhutsyayakhsky blocks.

What to read next

Gazprom Neft to increase investment by 32% to RUB 278 billion
Gazprom Neft increases stake in SeverEnergia
Gazprom Neft: Oil output in Iraqi Kurdistan reached 3 million tonnes