Gazprom Neft became the sole owner of the Salym project

Gazprom Neft closed the deal to buy Shell’s 50% stake in Salym Petroleum Development (SPD). According to the Unified State Register of Legal Entities, today, March 3, the stake in Salym Petroleum Development LLC was re-registered from Shell Salym Development BV to GPN-Middle East Projects LLC. Another 50% is owned by OOO GPN-Salym Projects. The founder of both companies is Gazprom Neft PJSC.

Gazprom Neft has confirmed the consolidation of a 100% stake in the authorized capital of LLC Salym Petroleum Development. “Shell’s exit will not affect plans for the further development of the asset, Gazprom Neft has all the necessary technologies, resources and expertise for the independent development of the enterprise,” Interfax quoted an excerpt from the company’s message.

Salym Petroleum Development N.V. — a joint venture established in 1996 for the development of the Salym group of oil fields in Western Siberia. The Salym group includes three fields: West Salym, Upper Salym and Vadelyp.

Shell decided to withdraw from all oil and gas projects in Russia immediately following the start of the military operation.

The fact that Shell signed documents with Gazprom Neft on the sale of 50% of SPD LLC was reported on February 2, 2023. The parties’ agreements were fixed on December 22, 2022. Russian President Vladimir Putin allowed Gazprom Neft’s subsidiary to buy Shell’s stake in the Salym project on February 17.

Read regarding the deal in the publication “Kommersant” “Shell is looking for a way out of Russia.”

Maria Fedotova

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