Gazprom Neft and Rosgeologia establish joint enterprise
Both companies will have an equal interest in the joint enterprise. Following the establishment of a legal entity, both companies plan to begin geological prospecting works at licence blocks owned by Gazprom Neft — including the Nyalinsky, Severo-Ityakhsky, Zapadno-Yubileiny blocks, and others — as early as 2017. All licence blocks at which geological prospecting is expected to take place contain inferred resources relating to the Bazhenov formation.
Alexei Vashkevich, Head of Geological Exploration and Resource Base Development, Gazprom Neft, commented: “Establishing a joint enterprise represents a major step forward in the ongoing long-standing collaboration between Gazprom Neft and Rosgeologia.”