Rosneft agreed to acquire a 40% stake in Arctic Russia from Enel, which will lead to Rosneft’s indirect ownership of a 19.6% stake in SeverEnergia. The stake will be acquired by NGK Itera, a subsidiary of Rosneft, which is a center consolidating gas assets within Rosneft group.
The transaction is valued at US$1.8bn and its completion is subject to regulatory and other approvals.
SeverEnergia is a joint gas production venture with assets in Yamal-Nenets Autonomous Region of Russia. 51% is held by Yamal Development – a joint venture of Novatek and Gazprom Neft, established on a parity basis. 49% stake is held by Arctic Russia, a joint venture between Eni and Enel, where the parties hold 60% and 40% respectively. SeverEnergia owns licenses for 9 fields, of which 4 largest are Samburgskoye, Yaro-Yakhinskoye, Yevo-Yakhinskoye and Severo-Chaselskoye. Proven and probable reserves stand at 7.3 Gboe.