Repsol is getting ready to sell stakes in two oil and gas ventures in Russia to its partner, state controlled Gazprom Neft, as the Spanish company pursues a strategy of optimising its international portfolio of fossil fuel assets.

Moscow business daily Kommersant reported that Gazprom Neft will acquire a 68% interest in the Yevrotek-Yugra exploration and development venture and a 50% interest in the ASB Geo exploration venture.