Gazprom Neft: Increases Stake in SeverEnergia

Yamal Development (a 50:50 joint venture between JSC Gazprom Neft and JSC NOVATEK) has acquired a 60 percent holding in Arctic Russia B.V. from Italy’s Eni. Arctic Russia B.V. owns a 49-percent equity interest in SeverEnergia. Following the transaction Gazprom Neft’s stake in SeverEnergia will increase to 40.2 percent.

Gazprom Neft First Deputy CEO Vadim Yakovlev commented: “With several major projects currently under development in the north of the Yamalo-Nenetsk Autonomous Region, Gazprom Neft continues establishment of a new cluster here that will make a significant contribution to increasing our production to 100 million tons of oil equivalent per year. SeverEnergia is one the projects: the company began commercial production of gas in April 2012, and a 200,000-ton-capacity oil treatment facility completed at the Samburgskoye field at the end of 2013 has allowed oil production to begin.”