Shell decides not to go ahead with JV with Gazprom Neft
Russia's Gazprom Neft has announced that Shell has advised them that they will not pursue the completion of a deal to create a joint venture through Meretoyakhaneftegaz.
Gazprom Neft said it will continue developing those license blocks previously intended to form part of the joint venture (the Meretoyakhinskoye field, the Tazovsky and Severo-Sambrugsky blocks, and two Zapadno-Yubileiny blocks in the Yamal Nenets Autonomous District) independently.
Work will continue as previously planned and will see development of and commercial production at the Tazovsky field to start by the end of 2020.
Gazprom Neft said the decision by Shell with regard to this deal will not impact its commitment to developing its business in Russia, including cooperation with Gazprom Neft, on current and potential new opportunities.
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