Gazprom Neft acquires stake in Evrotek-Yugra from Repsol

PJSC Gazprom Neft has acquired a 25.02% stake in Evrotek-Yugra, which is owned by Spain’s Repsol SA and holds exploration and production rights to seven license blocks in the Khanty-Mansiysk autonomous okrug.

PJSC Gazprom Neft has acquired a 25.02% stake in Evrotek-Yugra, which is owned by Spain’s Repsol SA and holds exploration and production rights to seven license blocks in the Khanty-Mansiysk autonomous okrug.

This joint enterprise will continue geological prospecting works in the Kondinsky district, in the southwest part of the Khanty-Mansiysk autonomous okrug, where all of the acquired license blocks are located.

Gazprom Neft and Repsol will be jointly managing Evrotek-Yugra on a parity basis. Gazprom also reserves the right to increase its stake to 50%.

Seismic investigations are under way at all license blocks belonging to Evrotek-Yugra, with nine exploration wells drilled during 2013-16. Ouryinskoye field, with recoverable reserves of 33.8 million tonnes of oil, was discovered in Karabashsky 1 and Karabashsky 2 fields in 2013.

A final investment decision in the development of Ouryinskoye field will be taken at yearend 2019 following completion of the geological prospecting program.

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