Arcticgas

Arcticgas

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.

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.

References

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