Gazprom Neft &Shell JV to Develop Hydrocarbons in Gydan Peninsula

Gazprom Neft and Shell have closed a transaction to establish a joint venture to study and develop the onshore Leskinsky and Pukhutsyayakhsky license
Gazprom Neft &Shell JV to Develop Hydrocarbons in Gydan Peninsula
Gydan PeninsulaGydan Peninsula

Gazprom Neft and Shell have closed a transaction to establish a joint venture to study and develop the onshore Leskinsky and Pukhutsyayakhsky license blocks on the Gydan Peninsula. The partners have also agreed to extend collaboration on greenhouse gas emissions-reduction projects and to cooperate in air transport safety. Under the terms of the transaction the partners will each hold a 50% interest in the joint venture’s charter capital. The joint venture will be managed by Gazprom Neft and Shell, on an equal basis. Both companies are consolidating their capabilities and competences to allow the development of a promising exploration cluster in the north eastern part of the Gydan Peninsula.

The joint venture’s asset portfolio includes the Leskinsky and Pukhutsyayakhsky license blocks. Both blocks are marked by a low level of geological investigation, as well as remoteness from transport and oil-and-gas infrastructure.

Located in the Taymyr district of the Krasnoyarsky Krai, the Leskinsky license block covers an area of more than 3,000 square kilometres, with resources potentially in excess of 100 million tonnes of oil equivalent (mtoe). Adjoining the Leskinsky block, the Pukhutsyayakhsky block, located in the Tazovsky district of the Yamal-Nenets Autonomous Okrug, covers an area of over 800 square kilometres, with resources estimated at around 35 mtoe.

So far, 2D seismic surveys have been completed at both blocks. Prospecting and appraisal activities are currently ongoing at the Leskinsky block, in order to gather data to refine the geological concept and prepare a future project development plan. Gazpromneft-GEO will be the operator on the first stage of this project, responsible for exploration works at both the Leskinsky and the Pukhutsyayakhsky blocks.

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