PJSC Lukoil announced that it and PJSC Gazprom Neft have entered into a sale and purchase agreement for a 50% stake in Meretoyakhaneftegaz LLC, which is a 100% subsidiary of Gazprom Neft.
The transaction is worth $ 695.2 million (RUB 52 billion), including the assignment of debt from Gazprom Neft loans valued at $ 467.9 million (RUB 35 billion) , Lukoil pointed out. The deal is expected to be finalized in 2022 after the fulfillment of a number of conditions precedent, including all necessary corporate approvals, as well as the consent of the Federal Antimonopoly Service, Lukoil explained.
The contract was signed as part of the creation of a joint venture to develop a large oil and gas cluster in the Nadym-Pur-Tazovsky region of the Yamal-Nenets Autonomous District, Lukoil said. In September, Lukoil announced that she and Gazprom Neft had reached an agreement on the establishment of a joint venture to develop a major oil and gas cluster in the Nadym-Pur-Tazovsky region of the Yamal-Nenets Autonomous District.
In Lukoil’s statement in September, it was revealed that the joint venture would be based at Meretoyakhaneftegaz LLC and that the Tazovskoye oil and gas condensate field, which was commissioned in June, will be the core of the new area. of production. Meretoyakhaneftegaz is the first asset managed by Lukoil and Gazprom Neft on a parity basis, Lukoil noted in its September press release.
Earlier this month, Lukoil announced that he would support social projects in the Yamal-Nenets Autonomous District. This support has been described to include the provision of medical and diagnostic assistance and rehabilitation to critically ill and disabled children and assistance to sports organizations, such as the FAKEL volleyball team and the skating federation. artistic Yamal-Nenets, as well as the organization of festivals in the Tazovsky region. and the municipalities of Purovsky.
Lukoil describes itself as one of the world’s largest publicly listed and vertically integrated oil and gas companies, accounting for around 2% of global oil production and around 1% of proven hydrocarbon reserves. Gazprom Neft is a vertically integrated oil company, primarily engaged in the exploration and development of oil and gas fields, oil refining, and the production and sale of petroleum products, notes its website. Its main shareholder is Gazprom, which holds a stake of 95.68%, underlines its site.
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