Gazprom Neft Enters Agreement to Join Cuban Project

Source: www.gulfoilandgas.com 11/15/2010, Location: South America

Gazprom Neft announces that it has signed a Transfer Agreement and a Joint Operating Agreement with Petronas, the Malaysian state-owned oil and gas company, relating to exploration and subsequent development of four Cuban offshore blocks.

The Agreement provides Gazprom Neft with a 30 per cent stake in the project, which is to be financed proportionally by participation shares subject to the pro-rata consideration of the expenses incurred to date. The Agreement shall take effect following approval by the state authorities of the Republic of Cuba.

The possibility to work on the shelf of Cuba was initially considered by Gazprom Neft's Board of Directors in early October 2010, when the Board acknowledged a positive long-term outlook to the Company's activity in this region.

"Gazprom Neft's partnership with Petronas will enable the Company to further extend its geographic reach and strengthen its position in the global market. The offshore experience will promote the Company's growth and reinforces the implementation of its strategic plans to increase production both in Russia and beyond", stated Alexander Dyukov, Chairman of Gazprom Neft's Executive Board.




Morocco >>  8/9/2022 - Sound Energy, the transition energy company, is pleased to provide an update on the Phase 2 development financing of its Tendrara Production Concessio...
United Kingdom >>  8/8/2022 - The Operator of PEDL241, Egdon Resources U.K. Limited, has filed an appeal on behalf of the Joint Venture partnership against Lincolnshire County Coun...

Colombia >>  7/29/2022 - Petrobras confirms the discovery of natural gas accumulation in the Uchuva-1 exploratory well, drilled in deep waters of Colombia, 32 kilometers off t...
Ireland >>  7/29/2022 - Europa Oil & Gas, the AIM traded UK, Ireland and Morocco focused oil and gas exploration, development, and production company, has announced that the ...

United Arab Emirates >>  7/29/2022 - Abu Dhabi National Oil Company (ADNOC) announced today a second discovery of natural gas resources in the first exploration well in Abu Dhabi’s Offsho...
Gambia >>  7/28/2022 - FAR Limited an independent, Africa focused, oil & gas exploration company, provides its quarterly activities report for the quarter ended 30 June 2022...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.