Date: 10 months ago   Category: Energy

RDIF and Mubadala have closed the transaction on purchase of 49% of Gazpromneft-Vostok — Rambler News Service


Photo: RIAs News/Pavel Lisitsyn the Russian Direct Investment Fund (RDIF) and Mubadala Petroleum (UAE) have closed the transaction on purchase from Gazprom Neft of 49% of Gazpromneft-Vostok subsidiary, RDIF reports. "The Russian Direct Investment Fund (RDIF), Mubadala Petroleum and Gazprom Neft declared implementation of investment and creation of joint venture for development of oil fields in the Tomsk and Omsk regions in Western Siberia", - it is said in the statement. According to the agreement which it has been announced on May 24, 2018 Gazprom Neft has carried out sale of a 49% share in the Gazpromneft-Vostok company which is the operator of 13 fields, the Mubadala Petroleum and RDIF companies. Following the results of the transaction Gazprom Neft owns 51% in the capital of joint venture, Mubadala Petroleum and RDIF – 44% and 5% respectively. Gazpromneft-Vostok remains affiliated structure of Gazprom Neft and will continue to execute functions of the operator of fields. "Partners will define the long-term development strategy of joint venture, paying special attention to efficiency of production and exploration works and also use of innovative technologies when developing stocks of a pre-Jurassic complex", - RDIF notes. As earlier reported to RNS, on May 24 the current year it became known that RDIF and the Mubadala Petroleum company (UAE) will create the joint venture (JV) with Gazprom Neft for development of a number of oil fields in the Tomsk and Omsk regions by acquisition of 49% of a share in the capital of the Gazpromneft-Vostok company – operator of these fields. Upon completion of transaction of Mubadala Petroleum 44% of the share capital of the company Gazpromneft-Vostok, RDIF – 5% will belong. The proved and probable reserves of hydrocarbons on fields of the Gazpromneft-Vostok company make about 40 million tons of oil equivalent (on the international classification of PRMS) or about 300 million barrels. Oil production volume in 2017 was 1,6 million tons (about 33 thousand barrels a day). The extracted oil goes for the Russian and international market, in particular, on the oil pipeline "Eastern Siberia-Pacific Ocean".

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