Gazprom Neft and NOVATEK Announce their Intention to Cooperate in the Arctic
Gazprom Neft and NOVATEK have concluded an agreement at this year’s St Petersburg International Economic Forum confirming their intention to cooperate in implementing projects in the Russian Arctic. Signatories to the document were Alexander Dyukov, Chairman of the Management Board, Gazprom Neft, and Leonid Mikhelson, Chairman of the Management Board, NOVATEK.
The agreement confirms the parties’ intention of establishing a joint venture to undertake all activities involved in the exploration and development of oil and gas fields.
Alexander Dyukov, Chairman of the Management Board, Gazprom Neft, commented: “NOVATEK is a longstanding-and proven partner to Gazprom Neft. We are now exploring opportunities for new joint projects with the potential to deliver major synergies. Signing this agreement confirms the intention of both companies to join forces in finding economically viable solutions for developing the Russian Arctic.”
