Gazprom will pay $600 million to power utility Enel and $900 million to oil producer Eni, the companies said. SeverEnergia was set up by Eni and Enel to bid for Russian energy assets.
Eni's stake in SeverEnergia will fall to 29.4 percent from 60 percent, while Enel will reduce its holding to 19.6 percent from 40 percent. The agreement will be completed at the end of June, with payment made in two tranches this year and next.
Gazprom, Eni and Enel will work together to explore for gas in western Siberia and aim to begin pumping there by June 2011. They expect output to reach at least 150,000 barrels a day within two years of starting production, according to the statements.
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