Italian oil and gas company Eni has proposed to elect two top executives to the 12-seat board of Gazprom Neft the oil arm of Russian gas export monopoly Gazprom.
The Russian firm said on Friday the Italian firm proposed to elect its vice-president for sales and portfolio investment, Marco Alvera, and head of exploration and production, Stefano Cao.
Cao is leading Eni's giant Kashagan project in Kazakhstan, while Alvera is overseeing South Stream, a joint project between Gazprom and Eni to supply southern Europe with gas.
Gazprom owns over 75 percent of Gazprom Neft, previously known as Sibneft. In April Eni bought 20 percent of Gazprom Neft at a state-forced auction of assets of bankrupt Russian oil firm YUKOS.
Gazprom has an option to buy back the stake from the Italian firm, but it said it would not do so in 2007, implying Eni could be represented on Gazprom Neft's board and entitled to its annual dividend.
(Reuters)