Gazprom Neft will develop its Meretoyakhaneftegaz project in Russia independently after Shell pulled out of a planned joint venture (JV) citing the negative impact of external factors.
Gazprom Neft said the assets being developed are within the perimeter of the JV at the Meretoyakhinskoye field, Tazovsky, Severo-Samburgsky, and two West Jubilee sites in the Yamalo-Nenets Autonomous Area in accordance with a previously approved work plan.
Operations are expected to start before the end of 2020 with industrial development of the Tazovsky field.
Gazprom Neft and Shell remain involved with the Salym Petroleum Development (SPD) JV, which closed a deal in March to expand activity developing the Salym group of fields in Russia’s Khanty-Mansi Autonomous Okrug.
The deal includes a new license for the right to geological exploration, and exploration and production of traditional hydrocarbon reserves at the Salymsky-2 site in the Khanty-Mansi area.
SPD acquired a 100% stake from Gazprom Neft in the authorized capital of Salymsky-2 LLC. The JV will become the operator of the new site which borders the West Salym, Vadelyp, and Upper Salym fields.
An asset development plan will be determined after a geological exploration program at Salymsky-2 is finished.