LUKoil, Gazprom Neft may set up JV within two months
LUKoil, Russia’s largest independent crude producer, and Gazprom Neft said they may establish a joint venture within the next two months.
LUKoil and Gazprom Neft, gas giant Gazprom’s oil division, signed an agreement in May to form a JV to develop new deposits in East Siberia and the Timano-Pechora oil bearing province in north European Russia. LUKoil is to have a 49% and Gazprom Neft a 51% stake in the JV, which will be managed on a parity basis.
Cooperation between LUKoil and Gazprom Neft is based on a strategic partnership agreement for 2005-14, which was signed in March 2005. Vagit Alekperov also said his company may float shares in a bid to raise funds to acquire assets in Europe, adding that could happen next year. (rian.ru)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.