FAS allows Wintershall to take part in development of Achimov deposits

The Federal Antimonopoly Service (FAS) has granted the request of the German Wintershall on the purchase of shares in companies that are participants of the project on the development of the Achimov deposits, the Service reported. Wintershall is interested in buying 25.01% of Achim Development’s shares and 9% of Achim sales’ shares, the Prime reports. At the end of 2012, Gazprom and BASF signed a legally binding framework agreement on the exchange of assets. On December 4, 2013, the transaction on exchange of assets was approved by the European Commission. The companies planned to complete the transaction in mid-2014. As a result of the transaction, Gazprom will increase its share in joint ventures on sale and storage of natural gas in Europe Wingas, WIEH and WIEE to 100%, and also will receive a 50% stake in the company WINZ, which carries out geological exploration and production of hydrocarbons in the North Sea. Wintershall, in turn, should receive 25.01% share of the economic participation in the project on development of sites 4A and 5A of the Achimov deposits at the Urengoy oil and gas condensate field.