Repsol and Gazprom Neft sign agreement to increase collaboration in West Siberia

Press Release 07/07/2017 00:00
  • The automatic lockers, known as Amazon Lockers, allow users to pick up online purchases at their nearest Repsol station. The service is simple and secure, and can be used 24 hours a day, seven days a week.
  • The service is already available at 70 stations in Repsol’s network across 21 Spanish provinces.
  • With this new partnership, Repsol is offering its customers a new and innovative service that will make day-to-day deliveries easier by taking advantage of the company’s large network of service stations and their extended opening hours.
  • The agreement, adds to other agreements with companies including El Corte Inglés, Disney and Nespresso that reinforce Repsol’s commitment to quality, service, innovation and continuous adaptation to customer needs.

The Chief Executive Officers of Repsol and Gazprom Neft, Josu Jon Imaz and Alexander Dyukov, today in Madrid signed a memorandum of understanding to increase collaboration between both companies in West Siberia and jointly explore investment opportunities in the area adjacent to existing exploration licenses owned by Repsol’s affiliate Eurotek Yugra.

The memorandum of understanding between the companies commits both to seek new opportunities in collaboration in order to grow exploratory activity in West Siberia. Either company will be able to pursue opportunities individually after the partner’s right of first refusal.

Eurotek Yugra, owned 75% by Repsol and 25% by Gazprom Neft, owns seven exploratory blocks in West Siberia, a relatively underexplored area of Russia with significant potential. Gazprom Neft has an option to increase its stake in Eurotek Yugra to 50%.

Repsol in 2014 announced two hydrocarbon discoveries in the Karabashsky 1 and 2 blocks in the area, whose recoverable resources are estimated at 240 million barrels of oil equivalent by the Ministry of Natural Resources and Environment of the Russian Federation.

The Repsol and Gazprom Neft CEOs Josu Jon Imaz and Alexander, shaking hands