Lukoil has announced that it and PJSC Gazprom Neft have concluded a sale and purchase agreement for a 50 percent equity share of Meretoyakhaneftegaz LLC, which is a Gazprom Neft wholly owned subsidiary.
The transaction value amounts to $695.2 million (RUB 52 billion), including the cession of claim of Gazprom Neft’s loans worth $467.9 million (RUB 35 billion), Lukoil highlighted.
The deal is planned to be completed in 2022 after the fulfilment of a number of conditions precedent, including all necessary corporate approvals, as well as the consent of the Federal Antimonopoly Service, Lukoil outlined.
The contract was signed as part of the creation of a joint venture to develop a large oil and gas cluster in the Nadym-Pur-Tazovsky area of the Yamal-Nenets Autonomous District.
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