Press Releases and Events
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%.
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.
PAO NOVATEK is one of the largest independent natural gas producers in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company’s subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Area, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation.