Gazprom EP International is the sole specialized enterprise for implementing Gazprom's projects in the areas of prospecting, exploration and development of hydrocarbons outside the Russian Federation.
Its history goes back to 1998, when Gazprom, Zarubezhneft and Stroytransgaz established Zarubezhneftegaz, a joint venture that would represent the companies’ interests in foreign projects.
In 2007, Gazprom bought out its partners’ stakes and renamed its now wholly owned subsidiary as Gazprom zarubezhneftegaz, which since then operated on behalf of Gazprom in Central and Southeast Asia, India and Venezuela. For a number of reasons, at the same time, Gazprom EP International B.V. was registered in the Netherlands. Its functions also included representing Gazprom's interests, but only in those regions where Gazprom zarubezhneftegaz was not present. Therefore, it appeared that two essentially independent companies carried out the same work.
By the end of 2010s it became clear that it was necessary to optimize Gazprom's project activity abroad by creating a sole specialized company within its structure. Such company would have to combine the necessary technological, human and financial potential to carry out upstream projects abroad and provide the needed management efficiency, acting on the basis of the single-window principle.
On 4 February 2011 it was decided that Gazprom EP International would be this company, and over the next three years, the assets of Gazprom ЕР International B.V. and Gazprom zarubezhneftegaz were merged.
Gazprom EP International currently operates in nearly 20 countries on 4 continents and participates in almost 40 projects of different scales. The key projects are implemented in Algeria, Vietnam, Bolivia, Uzbekistan, Tajikistan, Bangladesh and on the North Sea shelf (British, Danish and Dutch sectors). Negotiations are underway about Gazprom EP International’s possible participation in projects in a number of other countries.