Mubadala Mubadala Development Company (Mubadala), Gazprom and Russian Government Direct Investment Fund announced today the completion of a joint venture to develop a number of oil fields in the two regions "Tomsk" and "Omsk" in western Siberia.
This comes after the announcement on May 24 of the deal under which Gazprom sold its entire 49% stake in Gazprom Oil-Vostok, the operator of 13 oilfields in these regions, to Mubadala Petroleum "And" Russian Fund for Direct Investment ". Gazprom currently holds a 51% stake in the joint venture, while Mubadala Petroleum holds 44% and the Russian Fund for Direct Investment acquires the remaining 5%. Gazprom Oil-Vostok will remain Gazprom's business and will continue to operate the fields.
The joint venture, Gazprom Oil-Vostok, is Mubadala's first investment in the oil and gas sector in Russia. The partners will identify the long-term development strategy of the joint venture by focusing on enhancing the efficiency of exploration and production in fields and hydrocarbon resources dating back to the pre- Jurassic.
"Mubadala's acquisition of a 44% stake in Gazprom Oil-Vostok is a new and important step in our plans to achieve sustained and profitable growth through our first entry," said Dr. Bakheet Saeed Al-Kathiri, CEO of Mubadala Petroleum. To the Russian market, which will add value to our existing oil portfolio, and this partnership with Gazprom Oil, as one of the leading operators in Russia's oil and gas sector and the Russian direct investment fund, will allow us to share significant investment opportunities, While also contributing to the development of news In the field of oil and gas production, and enhancing our capabilities in exploration and production technologies. "