Spain’s Repsol withdrew from the project Gazpromneft for Gydane

Испанская Repsol вышла из проекта Газпромнефти на Гыдане

MOSCOW, may 22 (Reuters) – Spanish company Repsol (MC:REP) has decided not to participate in the project Gazpromneft Hidan on the Peninsula, said on Friday the representative of Repsol.

In June of 2019 Gazprom Neft (MCX:SIBN), Repsol and Shell signed an agreement of intent to establish a joint venture for development of Liskinskogo and Pohutakawa oil and gas areas on the Gydan Peninsula.

Gazprom was to receive in the joint venture of 50%, Repsol and Shell 25%. The parties plan to close the deal in 2020.

A source in Gazprom said that the Russian company is considering the implementation of a joint project with Shell.

“Repsol has informed Gazprom that is not currently considering participation in the project of studying assets on the Gydan Peninsula, the interest of which confirmed earlier,” the source said.

Gazpromneft declined to comment.

(By Vladimir Soldatkin, Isla Binnie; text Mary Grabar, with the participation of Anton Kolodyazhny. Edited By Anastasia Teterevleva)

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