20th Nov 2013 11:00
NOVATEK AND GAZPROM NEFT
INCREASE THEIR STAKES IN SEVERENERGIA
Moscow, 20 November 2013. Yamal Development (a 50/50 Joint Venture between OAO NOVATEK and OAO Gazprom neft) signed a binding agreement with the Italian energy company, Eni on acquiring a 60% equity stake in Artic Russia B.V., which owns 49% of the SeverEnergia Joint Venture. The value of the transaction is USD 2,940 million.
The transaction is subject to receipt of necessary approvals. Following completion of the transaction, the effective share of Yamal Development in SeverEnergia will increase to 80.4%.
Note
SeverEnergia holds development and production licenses for the Samburgskiy, Yevo-Yakhinskiy, Yaro-Yakhinskiy and North-Chaselskiy license areas.
As at 1 January 2013, the recoverable reserves of SeverEnergia under the ABC1+C2 categories of the Russian reserve classification were estimated at 1.35 trillion cubic meters of natural gas and 699 million tons of liquid hydrocarbons.
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For further information, please visit www.novatek.ru or contact:
| Press Service +7 (495) 721 2207 | Investor Relations +7 (495) 730 6013 |
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OAO NOVATEK is Russia’s largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities armarke concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 90% of Russia’s natural gas production and approximately 17% of the world’s gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker symbol «NVTK».
Copyright Business Wire 2013
Related Shares:
NVTK.L