Shell signs contract with Repsol and Gazprom Neft

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Shell has signed a preliminary contract with industry peers Gazprom Neft and Repsol for the search for oil on the Gydan peninsula in the far north of Russia.

Gazprom Neft will have a 50 percent interest in the partnership and Shell and Repsol in Spain will each have a quarter. By the end of the year, a more detailed agreement is expected to be signed by the companies and this should be finalized by 2020.

The remote Gydan Peninsula is located in the Russian Arctic.

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Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by [email protected]

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