Gazprom Neft and NOVATEK increase their stakes in SeverEnergia
Gazprom Neft and NOVATEK increase their stakes in SeverEnergia
20 November 2013 , press-releaseYamal Development (a50/50 Joint Venture between OAO Gazprom Neft and OAO NOVATEK) signed abinding agreement with the Italian energy company, Eni onacquiring a60% equity stake inArtic Russia B.V., which owns49% ofthe SeverEnergia Joint Venture. The value ofthe transaction isUSD 2,940million.
The transaction issubject toreceipt ofnecessary approvals. Following completion ofthe transaction, the effective share ofYamal Development inSeverEnergia will increase to80.4%.
REFERENCE
SeverEnergia holds development and production licenses for the Samburgskiy, Yevo-Yakhinskiy, Yaro-Yakhinskiy and North-Chaselskiy license areas. Asat1January 2013, the recoverable reserves ofSeverEnergia under the ABC1+C2 categories ofthe Russian reserve classification were estimated at1.35 trillion cubic meters ofnatural gas and 699 million tons ofliquid hydrocarbons.
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