Soyuzneftegaz

Soyuzneftegaz (Russian: СоюзНефтеГаз) – international investment group of companies headquartered in Russia involved in oil and gas exploration and production, as well as construction.[1][2] It is founded and headed by Yuri Shafranik, Chairman of the Board of the Union of Oil and Gas Producers of Russia.[3][4] The Interstate Bank of CIS holds 30% and SNG Holding holds 70% of shares.

Soyuzneftegaz
Native name
СоюзНефтеГаз
TypePrivate
IndustryOil and gas
Founded2000
FounderYuri Shafranik
Headquarters
Moscow
,
Russia
Key people
Yuri Shafranik (Chairman)
OwnersThe Interstate Bank of CIS (30%)
SNG Holding (70%)
Websitesoyuzneftegaz.ru

History

Soyuzneftegaz was established in 2000.[5][6] In early 2003, Soyuzneftegaz signed a contract with the Iraqi authorities for developing the Rafidein oil field in southern Iraq,[7] with the production of 100,000 barrels per day.[8] Soyuzneftegaz received 25.5 million barrels (4.05 million cubic metres) in the Oil-for-Food Programme,[9] which allowed Iraq to export oil to some companies and then to resell it in the United States, Europe, and Asia. Most of the funds were reserved for humanitarian needs or infrastructure work in Iraq.[10]

After the arrival of American troops in Iraq and a sharp deterioration of the situation in the country in 2004, Russian firms and specialists were withdrawn, and all work was practically terminated.[11] In 2004, Soyuzneftegaz held negotiations with UK and US companies regarding the possible joint development of the Rafidein oil field in southern Iraq.[12]

In 2004, Soyuzneftegaz gained control over UzPEC company, which since 2001 had a production-sharing agreement with Uzbekneftegaz for the Central Ustyurt and South-Western Gissar hydrocarbon deposits in Uzbekistan.[13][14] In 2007, Uzbekneftegaz conducted the production-sharing agreement for these fields with Soyuzneftegaz Vostok, a wholly owned subsidiary of Soyuzneftegaz.[15] In March 2008, Soyuzneftegaz Vostok was acquired by other Russian company Lukoil.[16][17] The transaction cost was $580 million.[18]

In October 2004 Soyuzneftegaz won a tender in Syria for the onshore Blocks 12 and 14 near Iraqi border.[19] In 2006, the company decided not to continue with the development of Block 14, but continued work on Block 12. In 2005, Soyuzneftegaz acquired a 50% working interest in Block 26 in the northeast of Syria through its wholly owned subsidiary SNG Overseas.[20] On 25 December 2013, Soyuzneftegaz signed a 25-year agreement to prospect for more oil in Syria.[21] The company stopped its operations in Syria in 2015 because of the Syrian conflict.[22]

In 2006, SNG Overseas was bought by the UK-based oil company Emerald Energy for exchange of US$7.3 million and 10% stake in Emerald Energy.[23] In August 2009, Soyuzneftegaz sold its shares in Emerald Energy to Chinese petrochemical company Sinochem.[24] The total deal value was estimated at $878 million.[25]

In 2013, Soyuzneftegaz agreed on a deal with Syria to jointly explore in the Mediterranean Sea, ostensibly for 25 years.[26]

References
  1. "SNG - Soyuzneftegaz". soyuzneftegaz.ru.
  2. "Soyuzneftegas Ltd консолидировал 8,39% акций Emerald Energy". mergers. 2007-05-04. Retrieved 2020-05-16.
  3. "Yuri K Shafranik Chairman, Soyuzneftegaz OOO". Bloomberg. Retrieved 2020-05-16.
  4. "Yuri Shafranik". RIAC. Retrieved 2020-05-16.
  5. "SoyuzNefteGaz". OilVoice. Retrieved 2009-10-17.
  6. "Soyuzneftegaz OOO". Bloomberg. Retrieved 2020-05-17.
  7. Ahtyam Ahtyrov (2003-01-18). "Breakthrough in Iraq: LUKOIL Back to West Kurna-2". Pravda. Retrieved 2009-10-17.
  8. "Russia strikes oil deal with Iraq". CNN. Retrieved 2020-05-17.
  9. Robert L. Larsson (March 2006). "Russia's Energy Policy: Security Dimensions and Russia's Reliability as an Energy Supplier" (PDF). Swedish Defence Research Agency. Archived from the original (PDF) on 2008-09-11.
  10. "Russian-Iraqi Oil Ties Worry U.S." Washingtonpost. Retrieved 2020-05-17.
  11. "Отношения России и Ирака. Справка". RIA. Retrieved 2020-05-17.
  12. "Russia's Soyuzneftegas Seeks Partner for Rafidain Field in Iraq". Energyintel. Retrieved 2020-05-17.
  13. "SoyuzNefteGaz to develop fields in Uzbekistan". Interfax. Alexander's Gas & Oil Connections. 2004-07-14. Retrieved 2009-10-17.
  14. Denis Rebrov (2004-07-14). "Soyuzneftegaz bought two huge gas fields in Uzbekistan". Vremya Novostei. Ferghana.Ru. Retrieved 2009-10-17.
  15. Sergei Blagov (2008-02-06). "Russia Wary about Uzbekistan's Geopolitical Intentions". EurasiaNet. Retrieved 2009-10-17.
  16. "LUKOIL Acquires New Hydrocarbon Assets in Uzbekistan". OilVoice. 2008-03-07. Retrieved 2009-10-17.
  17. "Lukoil acquires new hydrocarbon assets in Uzbekistan". Scandinavian Oil-Gas Magazine. 2008-02-11. Retrieved 2009-10-17.
  18. "Russia's LUKOIL completes $580 mln Uzbek buy". reuters.com. 2008-03-07. Retrieved 2020-05-17.
  19. "Russian companies to participate in some Syrian Oil & Gas Projects". Daily News. 2005-01-27. Retrieved 2009-10-17.
  20. "Soyuzneftegaz acquires Syrian interest". FSU Energy. 2005-05-13. Retrieved 2009-10-17.
  21. "Russia launches into oil exploration in Syria (in French)". Le Monde. 2013-12-25. Retrieved 2013-12-27.
  22. Shurmina, Natalia; Lyrchikova, Anastasia (2015-09-29). "Russia's Soyuzneftegaz drops plans for offshore oil and gas exploration in Syria". Reuters. Retrieved 2016-07-19.
  23. "Acquisition of 50 per cent. participating interest in Block 26 in Syria (the "Acquisition") and placing of 5,090,000 new ordinary shares of 10p each in the capital of the Company (the "Placing Shares") at a price of 158p per Placing Share (the "Placing") raising approximately £8.0 million" (Press release). Emerald Energy. 2005-11-14. Retrieved 2009-10-17.
  24. Maverick Chen (2009-08-14). "Sinochem to buy UK-based Emerald Energy". China.org.cn. Retrieved 2009-10-17.
  25. "Sinochem agrees $878 million buy of Emerald Energy". reuters. 2009-08-12. Retrieved 2020-05-17.
  26. "Syria, Soyuzneftegaz agree on Mediterranean exploration". Offshore Mag. Dec 30, 2013. Retrieved 9 September 2020.
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