Adnoc’s award of a 5% stake in the Ghasha concession to Lukoil is Russia’s most prominent upstream deal with Abu Dhabi yet. But it was not the first. State investment firm Mubadala’s subsidiary Mubadala Petroleum last year bought a 44% stake in Gazprom Neft’s Gazpromneft-Vostok LLC subsidiary (MEES, 7 September 2018). RDIF bought a further 5% of the subsidiary, leaving Gazprom Neft with 51%.
Mubadala Petroleum also works alongside Russia’s state-led Rosneft at Egypt’s 21.5tcf Zohr gas field, after purchasing a 10% stake last year (MEES, 29 June 2018). (CONTINUED - 144 WORDS)
