Gazprom and Rosneft will found JV for development of disputable shelf sites

Gazprom has expressed its position on the shelf sites located in the East Siberian Sea disputable with Rosneft. The sides are going to found a joint venture for their development.

According to the current legislation, only Gazprom and Rosneft are able to develop shelf. While appealing for several shelf sites, Gazprom was going to transfer them for operation to its subsidiary Gazprom Neft that is unable to operate on shelf.

Rosneft disagreed this decision and made counter applications for the same sites.