July 3, 2017 / 1:43 PM / in 5 months

Russia's Gazprom Neft to create joint venture with Spain's Repsol

MOSCOW (Reuters) - Russia’s oil producer Gazprom Neft (SIBN.MM) said on Monday it would create a joint venture with Spanish energy company Repsol (REP.MC) in Russia.

A logo of Gazprom Neft oil company is seen at a petrol station in Moscow, Russia, March 11, 2016. REUTERS/Maxim Shemetov/File Photo

Gazprom Neft acquired a 25.02 percent stake with the right to increase it to 50 percent in Evrotek-Yugra, which is owned by Spain’s Repsol and holds exploration and production rights to seven license blocks in West Siberia, Gazprom Neft said.

Reporting by Katya Golubkova; writing by Maria Tsvetkova; editing by Vladimir Soldatkin

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