Polar Union // Gazprom Neft and LUKOIL want to jointly produce Yamal oil

Gazprom Neft has finally agreed on LUKOIL’s entry into its project to develop several complex fields in the Yamalo-Nenets Autonomous Okrug. LUKOIL is intended to replace Shell in this joint venture by providing funding and expertise in the development of hard-to-recover reserves. But, analysts say, the effectiveness of the project will largely depend on the tax regime. …

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