Joint assets: the Salym oilfield in Siberia
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Shell 'seeking direct Sibir stake'
Anglo-Dutch supermajor Shell has held talks with AIM-listed oil company Sibir Energy about a £1 billion ($1.98 billion) asset swop deal that would see it taking a direct stake in the Russian player, it was reported.
The two companies, which are equal partners in the Salym developments in western Siberia, are considering a deal under which Shell would swop its stake in the partnership for an equity holding in Sibir itself, the UK’s Sunday Times reported.
A Shell spokesman contacted by Reuters declined to comment on the report.