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Gazprom buys controlling stake in SeverEnergia for $1.6 bln

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(updated 18:26 28.10.2014)
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Russian energy giant Gazprom completed on Wednesday a deal to buy a 51% stake in SeverEnergia from Italian co-owners Eni and Enel for $1.6 billion.

MOSCOW, September 23 (RIA Novosti) - Russian energy giant Gazprom completed on Wednesday a deal to buy a 51% stake in SeverEnergia from Italian co-owners Eni and Enel for $1.6 billion.

SeverEnergia holds the licenses to prospect and develop hydrocarbons in West Siberia.

"Upon completion of the sale and purchase deal, SeverEnergia shareholding structure will be as follows: Gazprom - 51%, the Italian partners - 49% (via a joint venture between ENI and Enel holding 60% and 40% respectively)," the Russian energy giant said in a statement.

SeverEnergia's assets previously belonged to Yukos, once Russia's largest oil company, which was declared bankrupt August 1, 2006, after three years of litigation with tax authorities over the company's tax arrears. The company's assets were sold through a series of auctions in 2007.

Gazprom earlier signed a call option agreement with Eni and Enel to acquire the second lot of Yukos assets.

Gazprom, Eni and Enel also agreed within the framework of the SeverEnergia joint venture to start the development of the Samburgskoye deposit on Yamal Peninsula in West Siberia in June 2011 to reach an output of at least 150,000 barrels of oil equivalent per day within two years after the launch of production, the statement said.