Gazprom Inks Kuwait Deal

摘要

Gazprom has inked a deal with private Kuwaiti firm Noor Financial Investment for joint exploration of acreage in both countries, extending the Russian firm's global reach. Under the memorandum of understanding, Gazprom subsidiary Gazpromgeofizika will set up two companies with Kuwait's 10th-largest investing company, one in Russia and the other in Kuwait. Gazpromgeofizika will own 51% of the Russian venture and Noor 49%, while the Russian firm will hold 29% in the Kuwaiti venture, Noor will take 51% and Cyprus-registered Cilantro Holding the remaining 20%.