Abu Dhabi investment vehicle Mubadala Petroleum this week finalized a joint venture with Russian state firm Gazprom Neft and the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund. Gazprom Neft sold 49% of its Gazpromneft-Vostok LLC subsidiary to the pair on 5 September. The new makeup is Gazprom Neft 49%, Mubadala Petroleum 44%, RDIF 5%.
Gazpromneft-Vostok operates 13 fields in the Tomsk and Omsk regions of Western Siberia. Output in 2017 was 1.6mn tons...