Russia’s Gazprom Neft said Thursday it and Shell have agreed to create a joint venture to develop fields in West Siberia with combined estimated reserves of 1.1 billion mt of oil. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The agreement was signed on the sidelines of the St. Petersburg International Economic Forum, one of the key events for Western investors to sign deals with Russian companies. In recent years, Western sanctions against Russia have dampened investor sentiment and raised risks associated with investing in Russian oil and gas projects. The agreement covers sale of a 50% stake in Meretoyakhaneftegaz and establishing a joint venture. The companies plan to close the deal by early 2020 after receiving all the necessary corporate and regulatory approvals. Meretoyakhaneftegaz holds a license to develop the Meretoyakhinskoye field. Other fields -? Tazovsky, North Samburgskoye and two West Yubileynoye […]