Last Updated January 11, 2008
Lukoil and Gazprom Neft have established a joint venture known as Oil and Gas Company 'Regional Development'. Gazprom Neft will hold a 51% stake in the new company, with Lukoil owning the remaining stake.
The joint venture will focus on acquiring rights for subsurface use, exploration and production of hydrocarbons, field development and implementation of infrastructure-related projects and the transportation of produced hydrocarbon materials.
At the end of November, 2007, Gazprom-Neft raised a US$2.2bn three-year unsecured syndicated loan (Click here to read previous coverage in GTR eNews, November 30, 2007)
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