First North Sea presence for world’s largest gas producer

Published: 28/12/2013

Russian oil giant Gazprom has finalised a deal which gives the company its first presence in the UK North Sea.

The world’s largest gas producer has taken 50% stakes in UK and Dutch gas fields operated by Wintershall, the oil and gas unit of BASF, under an asset swap deal which has now been ratified.

In return, Wintershall will increase its interest in two exploration blocks in Siberia, where the two companies are already working together.

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