Shell withdrew from the authorized capital of the Gydan Energy joint venture with Gazprom Neft on the Gydan Peninsula, according to the data of the Unified State Register of Legal Entities.
How specified in the document, on May 19, Gazprom Neft became the only participant in Gydan Energy with a 100% share. Previously, the partners each owned 50% in the authorized capital of the enterprise. Shell and Gazprom Neft set up a joint venture in November 2021 in the Yenisei project on the Gydan, which includes two license blocks, Leskinsky and Pukhutsyakhsky.
Commercial production at the Yenisei project is scheduled to begin in 2028. The Leskinsky site belongs to the Taimyr district of the Krasnoyarsk Territory. The hydrocarbon resources of the site may exceed 100 million tons of oil equivalent. The Pukhutsyakhsky block adjacent to Leskinsky is located in the Tazovsky district of the Yamalo-Nenets Autonomous Okrug, its resources are estimated at 35 million tons of oil equivalent. Proved reserves will be known based on the results of exploratory drilling.
Recall that at the end of February, Shell announced that it was withdrawing from the joint venture with Gazprom Neft Gydan Energy, from Salym Petroleum Development (50%) and from the Nord Stream-2 and Sakhalin-2 projects. As for the latter, a Chinese corporation could become the new owner of Shell’s 27.5% stake in this LNG project.
In particular, according to Bloomberg, citing sources familiar with the situation, CNOOC, CNPC and Sinopec are currently holding joint negotiations with the Anglo-Dutch corporation. Negotiations include the possible sale of a stake in one of the Chinese companies, two or a consortium of all three. Consultations are at an early stage, and there remains the possibility that the deal will not be agreed upon. Shell is also open to talks with other potential buyers outside of China, one of the agency’s sources said.
As per MRC, Shell has agreed to sell over 400 retail fuel stations and a lubricants blending plant in Russia to Lukoil.
Known as Shell Neft, the business operates fuel stations in central and northwest Russia, while the Torzhok blending plant is around 200km northwest of Moscow. Shell has committed to gradually withdrawing from all Russian hydrocarbon activities. Deal terms were not disclosed.
In addition, Shell in its reporting for the first quarter of 2022 recognized the cost of leaving Russian assets at USD 3.9 billion after taxes. Earlier, she informed that the losses could amount to USD 4-5 billion.
Shell is a British-Dutch oil and gas concern engaged in the extraction, processing and marketing of hydrocarbons in more than 70 countries.
mrchub.com