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Gazprom Neft to set up joint venture with Shell for Yamal oil field

Christian Fernsby |
Gazprom Neft said it would set up a joint venture with Shell to develop an oil field in Yamal estimated to hold reserves of around 1.1 billion tonnes of oil.

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Gazprom Neft, the oil arm of state gas company Gazprom, said it planned to close the deal late this year or early next and that both it and Shell would hold 50% stakes in the joint venture.

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