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Russia's Gazprom Neft and Shell launch JV for hydrocarbon development

MOSCOW (Reuters) - Russian oil producer Gazprom Neft on Tuesday said it had signed an agreement with Shell to establish a joint venture to develop a large-scale hydrocarbon cluster on the Gydan peninsula in Siberia.

The deal is scheduled to close in 2020, Gazprom Neft said, after which both partners will have a 50% share in the venture.

Reporting by Maxim Rodionov and Anton Kolodyazhnyy; Writing by Alexander Marrow; editing by Louise Heavens

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