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Gazprom Neft and Shell to Implement Joint Projects

Source: www.gulfoilandgas.com 6/17/2011, Location: Asia

The Chairman of Gazprom Neft Management Committee Alexander Dyukov and Chief Executive Officer of Royal Dutch Shell plc. Peter Voser have signed Heads of Agreement between OAO Gazprom Neft and Shell Exploration Company (RF) B.V. The signing took place at the Saint Petersburg International Economic Forum. Under the agreement, the two companies will assess the potential of creating a joint venture between Gazprom Neft and Shell to pursue joint projects in Western Siberia and other areas inside and outside of Russia to further develop cooperation between the two companies in upstream and downstream.

“Joint projects with Shell will allow Gazprom Neft to gain experience and access to state-of-the art technologies, as well as the opportunity to work on assets outside of Russia,” commented Alexander Dyukov. “This agreement builds on our successful partnership with Gazprom and will provide a launch pad for new joint projects in Russia and elsewhere,“ said Peter Voser.

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