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The President signed the Order On a Special Resolution on Transactions by the GPN-Middle East Projects Limited Liability Company.
Pursuant to paragraph 5 of Presidential Executive Order No. 520 On the Application of Special Economic Measures in the Financial, and Fuel and Energy Sectors in Connection with the Unfriendly Actions by Some Foreign States and International Organisations, dated August 5, 2022, the GPN-Middle East Projects LLC is allowed to carry out transactions for the acquisition of 50 percent of ordinary shares in the Khanty-Mansiysk Oil and Gas Union owned by Shell Exploration and Production (LXVI B.V.) and 50 percent of shares in the share capital of Salym Petroleum Development owned by SHELL Salym Development B.V.
The transactions specified in this order do not require other permits, decisions, consent (prior consent), approvals (prior approvals) or other authorisation documents (authorisation) stipulated by the laws of the Russian Federation.
February 17, 2023