Bloomberg News

Gazprom Offered New Assets by Wintershall in Siberian Swap

June 06, 2012

OAO Gazprom was offered new assets by BASF SE (BAS) in exchange for two Siberian deposits, Deputy Chief Executive Officer Alexander Medvedev said.

Gazprom is holding talks with Wintershall, BASF’s oil and production unit, on the swap, Medvedev told reporters today in Kuala Lumpur, without naming the assets.

Russia’s gas-export monopoly said in October it planned to swap assets with Wintershall after the opening of the country’s first gas pipeline directly to Europe. Gazprom was due to get 50 percent of Wintershall’s oil and gas fields in the southern part of the North Sea under the deal, while the German producer would acquire 25 percent plus one share in blocks 4 and 5 of the Achimov formation in the Urengoy field.

The talks were due to be completed this year, Anna Bungarten, a Wintershall spokeswoman, said in December. She wasn’t immediately available for comment today.

To contact the reporters on this story: Dinakar Sethuraman in New Delhi at dinakar@bloomberg.net; Anna Shiryaevskaya in Moscow at ashiryaevska@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net


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