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News // Companies

Gazprom Neft, Mubadala Petroleum and RDIF to jointly develop oil fields in Russia

06 September 2018 , 12:05Neftegaz.RU662

St. Petersburg, September 6 - Neftegaz.RU. Mubadala Petroleum and the Russian Direct Investment Fund (RDIF) have finalised a deal to acquire a 49 % shareholding in an oil venture in Gazpromneft-Vostok, marking the Abu Dhabi company's entry into Russia.

 

Following the completion of this transaction, Gazprom Neft now holds a 51 % interest in the joint venture, with Mubadala Petroleum and RDIF holding 44 % and 5 % equity, respectively. Gazpromneft-Vostok remains a subsidiary of Gazprom Neft, and will continue to operate the fields.

 

Bakheet Al Katheeri, CEO of Mubadala Petroleum, said: «The acquisition of a 44 % interest in the Gazpromneft-Vostok joint venture is another important step in Mubadala Petroleum’s drive for sustainable and profitable growth, marking our entry into Russia and adding valuable oil production to our existing portfolio.»

 

Alexander Dyukov, CEO of Gazprom Neft, commented: «One promising area for joint work here being developing technologies for the profitable development of pre-Jurassic hydrocarbon resources in the Tomsk Region.»

 

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said: «We welcome Mubadala Petroleum’s 1st investment in Russia... Participation of Mubadala Petroleum in the consortium will bring funds, experience and expertise of our Middle East partner to the Russian oil and gas sector».

 

To read the full story in Russian.

 

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