Russia’s Gazprom Neft and Shell launch JV for hydrocarbon development
MOSCOW (Reuters) – Russian oil producer Gazprom Neft on Tuesday said it had signed an agreement with Shell to establish a joint venture to develop a large-scale hydrocarbon cluster on the Gydan peninsula in Siberia.
The deal is scheduled to close in 2020, Gazprom Neft said, after which both partners will have a 50% share in the venture.
Reporting by Maxim Rodionov and Anton Kolodyazhnyy; Writing by Alexander Marrow; editing by Louise Heavens