Gazprom Neft will transfer Salymsky-2 site to its joint venture with Shell

TASS Russian News Agency | Jan 17, 2020 at 2:10 PM

MOSCOW, January 17. / TASS /. Gazprom Neft and Shell have agreed to expand their joint venture Salym Petroleum Development (SPD), which will receive a license for geological exploration, exploration and production of traditional hydrocarbon reserves of the Salymsky-2 site in the Khanty-Mansi Autonomous District, the companies said in a statement on Friday.

"The transfer of Salymsky-2 to the perimeter of the SPD and the synergy of the project with the already existing infrastructure of the enterprise will allow us to get the maximum return from this licensed site and to realize its production potential most effectively, dividing the geological uncertainties at the stage of exploration," said Deputy Director General for Exploration and Production of Gazprom Neft Vadim Yakovlev. Under the agreement, the SPD acquires 100% from Gazpromneft-Huntos and Gazpromneft-Invest in LLC "Salymsky-2" for which a license for the site of the same name will be renewed. The licensed site "Salymsky-2" is located near the already developed SPD fields.

Salym Petroleum Development is a joint venture whose shareholders are on a parity basis Shell Salym Development BV, member of the Shell concern and GPN-Salymskyye Projects, a subsidiary of Gazprom Neft. SPD has been developing the Salym Oil Group since 2003.