Gazprom Neft bought Shell’s stake in the Salym project
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Affiliated undertaking “Gazprom of oil, LLC GPN – Middle East Projects bought a 50% stake in Salym Petroleum Development LLC from the British Shell.
The corresponding entry about the new participant in the Unified State Register of Legal Entities appeared on March 3. Previously, this share belonged to Shell Salym Development BV The remaining 50% is still owned by GPN Salym Projects LLC.
February 18 Russian President Vladimir Putin signed an order that allowed GPN – Middle East Projects to also acquire 50% of the ordinary shares of CJSC Khanty-Mansiysk Oil and Gas Union, owned by Shell Exploration and Production (LXVI) BV).
Shell agreed to sell its stake in a joint venture (JV) Salym Development LLC with Gazprom Neft at the end of December 2022. In July, “Gazprom Neft” filed an application for the transfer of a joint venture from Shell to Russian jurisdiction and the transformation of Salym Petroleum Development NV into Salym Development LLC with an authorized capital of 8.6 million rubles, in August the court granted it, Vedomosti wrote.
The Salym Petroleum Development joint venture is developing the Salym field in the Khanty-Mansiysk Autonomous Okrug in Western Siberia. Production at the field is about 6 million tons per year. Salym Petroleum is one of the oldest oil and gas joint ventures in Russia, established in 1996. It owns six licenses for the fields of the Salym group. Gazprom Neft entered the capital of the joint venture in the late 2000s.
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