Investments in development of Tazovskoye field will exceed 130 milliard rubles

Investments of “Gazprom Neft” and Shell in the joint venture “Meretoyakhaneftegaz” may exceed 130 milliard rubles. The head of “Gazprom Neft” Alexander Dyukov told about it on the TV channel “Rossiya 24”.

“If we talk about the flagship project of our joint venture, then, of course, as I said, it would be the project for development of Tazovskoye field. Industrial parameters: 6 million 500 thousand tonnes of oil equivalent per year, as for investments, we plan jointly to invest more than 130 milliard rubles”, Dyukov said.

He notes that further the enterprise will be busy with development of the North-Samburgskoye and other extractive fields, as energybase.ru informs.

“In total, at the peak, we expect that production would be more than 10 million tonnes of oil equivalent per year”, Dyukov added.

The agreement on establishment of the joint venture on the parity basis for development of license areas in Yamal-Nenets Autonomous Okrug was concluded in June at the St. Petersburg international economic forum. “Gazprom Neft” and Shell signed documents on sale and purchase of a 50% share in the authorized capital of “Meretoyakhaneftegaz” and creation of the joint venture on its basis. According to Dyukov, closing of the transaction is planned at the end of this year – the beginning of the next year. 

“Now we are receiving corresponding regulatory and corporate approvals. We do not see any obstacles for closing of the transaction in the near future”, as the head of “Gazprom Neft” said.

“Meretoyakhaneftegaz” holds the license for Meretoyakhinskoye field. By the time the transaction is closed, the asset portfolio of the joint venture will also include licenses for several areas with different degree of development: Tazovskoye, the North Samburgskoye and two West Yubilenoye areas in Yamal-Nenets Autonomous Okrug. The geological reserves of the fields that will be included in the perimeter of “Meretoyakhaneftegaz” are about 1 milliard 100 million tonnes of oil.