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ABOUT THE COMPANY

In order to secure the position of Gazprom group in the United Kingdom and for the realization of a number of commercial and investment projects, on September 17th 1998 in accordance with the decision of the Board of Directors of the Russian Joint Stock Company «Gazprom» № 86 dated 04.09.1998 a 100% subsidiary company of PJSC «Gazprom» - GAZPROM (U.K.) LIMITED was registered in the United Kingdom.

In 2005, based on the resolution of the Chairman of the Board of PJSC «Gazprom» A.B. Miller it was decided to involve the company GAZPROM (U.K.) LIMITED in the acquisition and implementation of projects in the sphere of production transportation and distribution abroad. The first project given to the management of GAZPROM (U.K.) LIMITED was the acquisition of two companies in Venezuela (UrdanetaGazprom-1, S.A. and UrdanetaGazprom-2, S.A.) from a Russian company Zarubezneftegaz, JSC.

In the years between 2007 and 2011 the primary objective of GAZPROM (U.K.) LIMITED was to fulfill the functions of shareholder of «UrdanetaGazprom-1, S.A.» and «UrdanetaGazprom-2, S.A.», including organization of financing and monitoring of production activities of Venezuelan companies with the aim of implementing the«Rafael Urdaneta» project.

The results of drilling operations on the block Urumaco I revealed an extremely complicated geological structure of the blocks. In this connection all work on the project were temporarily suspended between 2010 – 2011 until the final decision of the management of PJSC «Gazprom» regarding further participation in the «Rafael Urdaneta» project.

The licenses for exploring and development of "Urumaco I" and "Urumaco II/III" blocks in the Gulf of Venezuela were withdrawn in 2013-2014.

In 2014 the representative offices of UrdanetaGazprom-1, S.A. and UrdanetaGazprom-2, S.A.in the UK were opened, both companies received the status of tax residents of the UK.

During 2014 UrdanetaGazprom-1, S.A. was merged with UrdanetaGazprom-2, S.A. and was renamed to GAZPROM UK RESOURCES, S.A. The company has a status of a tax resident of the UK.

In May 2014 GAZPROM UK RESOURCES, S.A. and related party Gazprom International UK Ltd. entered into a Farmout Agreement to transfer, subject to meeting certain conditions, the 20% participating interest in gas production licenses P1239 and P1733 in the North sea (“Wingate project”) from Gazprom International UK Ltd. to GAZPROM UK RESOURCES, S.A. The assignment of 20% share in Wingate project was completed on 26 July 2016.