Mubadala, RDIF acquire stake in Gazpromneft-Vostok to develop Siberian oil fieldsStaff Writer | September 6, 2018
Gazprom Neft, Mubadala Petroleum and the Russian Direct Investment Fund (RDIF, the sovereign wealth fund of the Russian Federation) have announced the completion of a transaction establishing a joint venture to develop oil fields in the Tomsk and Omsk regions of Western Siberia.
Acquisition The partners will determine the long-term strategy
The Gazpromneft-Vostok joint venture represents Mubadala Petroleum’s first investment in the Russian oil and gas sector.
The partners will determine the long-term strategy of the joint-venture, focusing on efficiency in exploration and production activities at the fields as well as at pre-Jurassic hydrocarbon deposits. ■