7 Jul 2017 16:32

Gazprom Neft, Repsol to buy Khanty-Mansiysk sections next to assets owned by JV

MOSCOW. July 7 (Interfax) - Gazprom Neft and Spain's Repsol have signed a memorandum of mutual understanding, Gazprom Neft said in a statement.

"The memorandum confirms both parties' interest in the further development of Evrotek-Yugra - a joint enterprise between Gazprom Neft and Repsol - and formalizes both companies' mutual interest in investigating, purchasing and developing license blocks in the Khanty-Mansiysk Autonomous District, neighboring assets owned by Evrotek-Yugra," the statement said.

Gazprom Neft acquired a 25.02% stake in Evrotek-Yugra, which holds exploration and production rights to seven license blocks in the KMAD, and has the right to increase this to 50%. The companies will manage the JV on a 50-50 basis.