Slavneft has effected the transaction for the sale of ZАО Messoyakhaneftegaz to TNK-ВР and Gazprom Neft

ZАО Messoyakhaneftegaz which was a subsidiary of ООО Slavneft-Krasnoyarskneftegaz holds the licenses for exploration and development of the Vostochno-Messoyakhsky and Zapadno- Messoyakhsky license areas situated at the territory of the Gydansky peninsula in the Tazovsky region of the Yamal-Nenets Autonomous Area.
In 1999, OAO NGK Slavneft obtained the right to develop the group of the Messoyakha oil and gas fields. Over 11 years, from 1999 till 2009, the Holding’s specialists carried out a great scope of exploration activities: 18 explorations wells were drilled, 2D and 3D seismic operations were performed in the volume of 2,517 km and 1,100 km2 respectively, the 3-D seismic and geological model of the Messoyakha bar was developed. Under results of the exploration performed, the Company managed to prove the commercial value of the Messoyakha Block fields, due to С1 and С2 oil recoverable reserves increment by 116.1 mln tons and 269.7 mln tons respectively.
By January 01, 2010, the aggregate volume of АВС1 recoverable oil at these areas achieved 202.1 mln tons, С2 – 349.5 mln tons.
Taking into account high capital intensity of future works on commercial development of the Vostochno-Messoyakhsky and Zapadno- Messoyakhsky license areas, at the end of 2009 the Slavneft’s shareholders passed the resolution on withdrawal of ZАО Messoyakhaneftegaz from the Company’s structure and independent management of this asset. In 2010, Gazprom Neft became the operator of the Messoyakha Project.