Shell and Gazprom Neft Expand the Salym Joint Venture in Western Siberia
International super-major Royal Dutch Shell Plc and Russian state-owned Gazprom Neft PSJC have agreed to expand their existing 50:50 Salym Petroleum Development (SPD) joint venture, which currently develops and operates oil fields in the Khanty Mansiysk Autonomous Region in Russia. Under the terms of the agreement, SPD will acquire the Salymsky-2 Block from two other subsidiaries of Gazprom Neft. SPD will also act as the operator of the new development project. The Salymsky-2 Block covers an area of 376 sq. km in Western Siberia, with the eastern part of the block adjoining the West Salym, Vadelyp and Upper Salym Fields that are also currently being developed by SPD. At present, the interpretation of geological information obtained from previously conducted 3D seismic surveys on the block is under way. SPD has been developing the Salym group of oil fields since 2003. The Salym project is the largest onshore investment project involving foreign capital in the Russia.