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.
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@example.com.