Wintershall offers Gazprom North Sea stakes

Gazprom and Wintershall have signed a framework agreement establishing terms for a planned asset swap.

Offshore staff

LUDWIGSHAFEN, GermanyGazprom and Wintershall have signed a framework agreement establishing terms for a planned asset swap.

This will lead to the companies jointly developing blocks IV and V of the Achimov formation of the Urengoy field onshore western Siberia.

In return, Gazprom will gain interests of equal value in selected Wintershall exploration and production projects in the UK and Dutch North Sea. Ultimately Gazprom will receive half of Wintershall’s shares in these concessions.

10/31/2011

More in Regional Reports