English / Русский

ABOUT THE COMPANY

In order to secure the position of Gazprom group in the United Kingdom and for the realization of a number of commercial and investment projects, on September 17th 1998 in accordance with the decision of the Board of Directors of the Russian Joint Stock Company «Gazprom» № 86 dated 04.09.1998 a 100% subsidiary company of JSC «Gazprom» - Gazprom (U.K.) Limited was registered in the United Kingdom.

In 2005, based on the resolution of the Chairman of the Board of JSC «Gazprom» A.B. Miller it was decided to involve the company Gazprom (U.K.) Limited in the acquisition and implementation of projects in the sphere of production transportation and distribution abroad. The first project given to the management of Gazprom (U.K.) Limited was the acquisition of the following companies in Venezuela from CJSC «Zarubezneftegaz», (registered in Russia) «UrdanetaGazprom-1, S.A.» and «UrdanetaGazprom-2, S.A.».

In the years between 2007 and 2011 the primary objective of Gazprom (U.K.) Limited was to fulfill the functions of shareholder of «UrdanetaGazprom-1, S.A.» and «UrdanetaGazprom-2, S.A.», including organization of financing and monitoring of production activities of Venezuelan companies with the aim of implementing the«Rafael Urdaneta» project.

The results of drilling operations on the block Urumaco 1 revealed an extremely complicated geological structure of the blocks. In this connection all work on the project were temporarily suspended between 2010 – 2011 until the final decision of the management of JSC «Gazprom» regarding further participation in the «Rafael Urdaneta» project.

In February 2012 in accordance with the resolution of the Chairman of the Board of JSC «Gazprom» A.B. Miller№ 01-337 dated 13.02.2012 Gazprom (U.K.) Limited had been designated as the sole specialized company for implementation of oil and gas projects in the field of prospecting, exploring and production in the Bolivarian Republic of Venezuela.

The licenses for exploring and development of "Urumaco I" and "Urumaco II/III" blocks in the Gulf of Venezuela were withdrawn in 2013-2014.

In 2014 the offices of the Venezuelan companies were opened, both companies received the status of tax residents of the UK.

During 2014 Urdanetagaprom-1, S.A. was merged with Urdanetagazprom-2, S.A. and was renamed to Gazprom UK Resources, S.A. Gazprom (U.K.) Limited share in Gazprom UK Resources, S.A. was increased from 99% to 100%. Gazprom UK Resources, S.A. has a registered office in London and has been managed from the UK since March 2014.

In May 2014 Gazprom UK Resources, S.A. and related party Gazprom International UK Ltd. entered into a Farmout Agreement to transfer, subject to meeting certain conditions, the 20% participating interest in gas production licenses P1239 and P1733 in the North sea (“Wingate project”) from Gazprom International UK Ltd. to Gazprom UK Resources, S.A. The assignment of 20% share in Wingate project was completed on 26 July 2016.