1 Oct 2018 17:09

Gazprom Neft, RDIF, Gazprombank, Mubadala JV West-Siberian Investment Consortium liquidated

MOSCOW. Oct 1 (Interfax) - Zapadno-Sibirsky Investitsionny Konsortium LLC (West-Siberian Investment Consortium), a joint venture between Gazprom Neft , Russian Direct Investment Fund (RDIF), Gazprombank and the UAE's Mubadala sovereign fund, which was set up to bid in auctions on deposits in Russia, has been liquidated.

The SPARK-Interfax system shows that the record in National Register of Companies was liquidated on August 30.

Gazprom Neft had a 26% stake in the JV, Mubadala and RDIF had 24.5% each and Gazprombank's Energoproyekt LLC had 25%.

The JV was created in August 2016. It bid in the auction for the Nazymsky section (Khanty-Mansii autonomous district), which was won by Rosneft . It was also interested in the Erginskoye field (Khanty-Mansii autonomous district), but ultimately did not submit a bid. Rosneft won that auction as well.

Meanwhile, Gazprom Neft, RDIF and Mubadala have created another JV in Western Siberia. Mubadala and RDIF bought 49% of the company Gazpromneft-Vostok, with Gazprom Neft owning 51%. Mubadala owns 44% and RDIF 5% in Gazpromneft-Vostok which is developing a group of mature deposits at six sections in Tomsk and Omsk regions.

Gazprom Neft and Mubadala are also discussing potential opportunities for cooperation beyond the Gazpromneft-Vostok deal, Gazprom Neft chief Alexander Dyukov said. He previously said that Gazprom Neft and Mubadala were considering several other assets, including the joint operation, exploration and production of assets in the Middle East.