Arcticgas

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OAO Arcticgas (formerly known as Severneftegaz; not to be confused with Sevmorneftegaz and Severneftegazprom) is a Russian oil and gas company, which operates in the Yamalo-Nenets Autonomous Okrug. It produces the natural gas, condensate, and oil in the Samburg and Evo-Yakha license blocks within and adjacent to the Urengoy gas field. The headquarter of the company is located in Novy Urengoy, Tyumen Oblast.

[edit] History

Severneftegaz was one of the first independent oil and gas companies in Russia. In 11 August 1998, an American-based Benton Oil and Gas Company acquired 40% equity in Severneftegaz and increased its stake afterward up to 68%. Other shareholders of this time were Gazprom, Urengoyneftegazgeologiya and Logovaz.

In 2002, in a series of transactions, 100% of Arcticgas shares were acquired by YUKOS. On 4 April 2007, the shares were acquired by EniNeftgaz, a joint subsidiary of Italian companies Eni and Enel, with Gazprom’s option to acquire a 51% stake.[1]

[edit] References

  1. ^ Eni offers Gazprom option on Gazprom Neft 20 pct stake for 3.7 bln usd UPDATE, Forbes 4 April 2007
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