Gazprom International will manage all foreign upstream projects of Gazprom

Июня 09, 2011

Gazprom International is appointed as a single specialist company to implement Gazprom projects on searching, exploration and production of hydrocarbons abroad. The respective decision has been made in Gazprom.

Gazprom zarubezhneftegaz will be completely integrated in Gazprom International before mid of June 2012, following which Gazprom zarubezhneftegaz can be liquidated as a legal entity. At present both companies launched unification of projects management in one legal entity – Gazprom International.
Gazprom International is expected to take over other Gazprom upstream projects.
Projects consolidation in one company will streamline and facilitate the decision making process on projects, make it possible to employ “one contact” principle for interaction on all foreign upstream projects.
Financing of all overseas projects of Gazprom will be also expedited, and finally, consolidation will reach synergies.
Valery Gulev, by the decision of Gazprom, was appointed the Managing Director of Gazprom EP International B.V. in January 2011. Gazprom zarubezhneftegaz is managed by the Acting Director Yury Skok.
Gazprom zarubezhneftegaz was set up in 1998 as a joint venture of Gazprom, Zarubezhneft and Stroytransgaz. Initially it was planned that Gazprom zarubezhneftegaz will represent interests of all founders in foreign projects. In 2007 Gazprom bought out the other shareholders’ stocks and Gazprom zarubezhneftegaz became its 100% subsidiary.
Gazprom zarubezhneftegaz, for and on behalf of Gazprom, carries out projects associated with searching, exploration and production of hydrocarbons in the Central Asia countries, Vietnam, India. Negotiations are held on possible participation in projects in the territory of Bangladesh, Uruguay, Sri-Lanka, Pakistan and other countries.
Gazprom EP International was founded in 2007 by decision of Gazprom and registered in the Netherlands. Initial name of the company was Gazprom Netherlands B.V. The function of the company is also to represent Gazprom in international upstream projects.
Regions of Gazprom EP International activity – Africa (projects in Libya, Algiers, potential projects in Namibia and Nigeria) and Latin America (Bolivia and Venezuela). Thus, both companies has performed similar functions, but in different regions.