Gazprom Neft to Consider Strategic Alternatives for Development of Oilfield Services Business

Gazprom Neft has started to examine various options for the development of the Company’s oilfield service business. The process may result in either a partial or full sale of entities affiliated to Gazpromneft-Nefteservis. As an alternative, the Company is considering the possibility of its oilfield service assets going public via an IPO. The review process is expected to be completed during the course of this year.

Deutsche Bank acts as an exclusive advisor for the potential options.

Reference

Gazprom Neft’s oilfield service business division consists of Gazpromneft-Nefteservis managing company and nine subsidiary entities. The business covers a wide range of core services in the sphere of drilling, oilwell workovers and maintenance works, geophysics, and well cementing. In addition, the company provides additional services including transportation, drilling and auxiliary equipment repairs and maintenance, and production tubing and casing repair and maintenance. Gazpromneft-Nefteservis operates in the key producing regions of Russia, including Yamalo-Nenets and Khanty-Mansiysk Autonomous Regions, Tomsk and Omsk Regions, Yakutia, and Krasnoyarksk Territory.