13 Dec 2022 19:15

Gazprom Neft asks court to lift ban on Shell exiting Salym project in order to buy out partner's stake

MOSCOW. Dec 13 (Interfax) - Gazprom Neft is requesting the court lift from Shell (SPB: RDS.A) a portion of the interim measures adopted earlier at the oil company's own request and allow its foreign partner in the development of the Salym group of oil fields to sell its stake in the project's operator, Salym Petroleum Development LLC, and the buyer could be a structure of Gazprom Neft.

According to court records, GPN-Salym Projects LLC filed an application on Monday with the Arbitration Court of the Moscow Region "to allow Shell Salym Development B.V. to control a 50% stake in the charter capital of Salym Petroleum Development LLC and conclude a transaction and actions to transfer ownership in favor of GPN Middle East Projects LLC."

The court has set hearings to consider the validity of the application for December 22.