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Shell has left the main project in northern Russia

Photo: Shell

The expected production volume in the north of the Krasnoyarsk Territory could reach nearly 20 million tons of oil by 2034.

British-Dutch company Shell has withdrawn from the charter capital of Gidan Energy, a joint venture with Gazprom Neft in the Arctic. They are working on the Yenisei oil production project. On Monday, May 23, Kommersant reported with reference to the state register database (EGRLE).

It was noted that on May 23, 100% of the authorized capital of Gidan Energy was owned by Gazprom Neft. Previously, 50% of the company was owned by Shell.

According to Interfax, it is planned that commercial production on the project could begin in 2028, and the expected volume of production in the north of the Krasnoyarsk Territory could reach nearly 20 million tons of oil by 2034.

It will be recalled that in March, Shell announced its intention to withdraw from participation in all of Russia’s hydrocarbon projects, including oil, oil products, gas and LNG. As an immediate first step, the company stopped all buying of Russia’s oil spot.

It was also reported that Shell has begun recalling personnel from its joint ventures with Russia’s Gazprom.

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Source: korrespondent

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