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September 23, 2009

Gazprom Acquires Stake in SeverEnergia

Russia’s Gazprom has taken a 51% stake of SeverEnergia from Italian companies Eni and Enel in a $1.6bn deal. Gazprom has already paid $384m, with the second tranche to be settled in March next year. Following the acquisition, Enel's stake in SeverEnergia has decreased from 4

By cms admin

Russia’s Gazprom has taken a 51% stake of SeverEnergia from Italian companies Eni and Enel in a $1.6bn deal.

Gazprom has already paid $384m, with the second tranche to be settled in March next year.

Following the acquisition, Enel’s stake in SeverEnergia has decreased from 40% to 19.6%, while Eni’s stake has reduced from 60% to 29.4%.

Under earlier agreements, the companies pledged to generate initial gas from the Samburskoye field by June 2011 and attain 150,000bpd within 24 months of the start of production.

SeverEnergia, now the first Russian-Italian E&P company, has offices in Moscow and operations in the Yamal Nenets area (Western Siberia), which at present generates nearly 90% of Russia’s gas.

SeverEnergia is the 100% owner of Urengoil, Arcticgaz and Neftegaztechnologia, which hold licences for hydrocarbons exploration and production with total gas and oil reserves estimated at 5 billion barrels of oil equivalent.

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