Russia’s Gazprom Neft, Shell set up shale oil JV in West Siberia

Russian oil company Gazprom Neft and Royal Dutch Shell have set up a joint venture to develop shale oil in the Khanty-Mansi Autonomous District in Western Siberia, a Shell unit representative told PRIME on Tuesday.

Gazprom Neft and Shell will own the joint venture called Khanty-Mansi Oil Alliance and provide investments on a parity basis.

The two companies signed a memorandum to cooperate in exploration of shale oil fields in April 2013.

SOURCE: PRIME, 2014

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