Gazprom plans to buy 50% in Caspian field from Swedish company

World

Russian energy giant Gazprom said Monday it had signed a deal with Sweden's Lundin Petroleum AB to acquire a call option for 50% plus one share in a Caspian oil and gas field. 

The cost of the planned deal, under which Gazprom will buy the shares in the Lundin-owned company that holds the deposit's license, has not been disclosed. The Lagansky block is located in the Russian sector of the Caspian Sea and has estimated reserves of more than 800 million barrels of oil equivalent.

Sweden's Lundin Petroleum AB is an oil and gas exploration and production company with operations in Europe, Africa and Asia. The company is involved in five oil and gas projects in Russia. As of January 1, the company had existing proven and probable reserves of 176.4 million barrels of oil equivalent. (rian.ru)

ADVERTISEMENT

Climate change hurts economy, but creates new business oppor... Analysis

Climate change hurts economy, but creates new business oppor...

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Dentons rehires banking and finance partner Appointments

Dentons rehires banking and finance partner

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

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.