Italians win Yukos auction – for Gazprom

EniNeftegaz paid $5.83 billion for assets which includied 100% ownership of three companies that own exploration and production licenses in Russia’s supergiant Siberian fields: Arctic Gas Company, Urengoil and Neftegaztechnologia, and 20% of Gazprom Neft, Gazprom’s oil arm, formerly known as Sibneft.

However, Gazprom, Russia’s state-backed gas company, signed an option agreement with the Italians, which will allow them access to 51% participation interest in these assets within two years

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