Spain's Repsol exits Russia with assets sale to Gazprom Neft

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A view shows gas wells at Bovanenkovo gas field owned by Gazprom on the Arctic Yamal peninsula, Russia May 21, 2019. REUTERS/Maxim Shemetov

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MOSCOW, Jan 12 (Reuters) - Spain's Repsol (REP.MC) has agreed to sell its interest in two remaining Russian assets to Gazprom Neft (SIBN.MM), the oil arm of the state gas company Gazprom , both companies said on Wednesday.

The sale of the stakes in upstream companies Evrotek-Yugra and ASB GEO would mark an end of Repsol's operations in Russia where it was present since 2010 with rights for over a dozen blocks.

"This transaction is aligned with the company's strategic plan presented in 2020 to streamline and focus its exploration and production portfolio," Repsol said in a statement.

Gazprom Neft plans to close the deal in the first quarter of this year and may consider another partner to jointly develop the assets, it said separately on Wednesday. Neither company disclosed the value of the deal.

This month, Repsol bought shale oil and gas assets from U.S. firm Rockdale Marcellus for $222 million. The assets are located near an area in Pennsylvania where Repsol already operates a shale field. read more

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Reporting by Olesya Astakhova in Moscow and Inti Landauro in Madrid, Writing by Katya Golubkova; Editing by Emelia Sithole-Matarise

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