Lukoil-Eni Congo license bid moves forward, not yet awarded By Reuters
Economy 11 hours ago (Mar 17, 2023 22:36)
© Reuters. The logo of Lukoil is on display at a petrol station in Saint Petersburg, Russia May 25, 2022. REUTERS/Anton Vaganov/File Photo
MILAN/MOSCOW (Reuters) -A joint bid between Lukoil and Eni for the rights to two of Congo’s offshore energy blocks has moved forward, but has not yet completed, Interfax reported on Friday, citing a Lukoil executive and correcting previous agency reports that the contract had already been awarded.
Lukoil said the Congo government had accepted an initial tender bid for the Marine 24 and Marine 31 blocks in the joint bid with Eni, with the Lukoil-Eni proposal being the only one on the table, Interfax reported. Lukoil was cited as saying it was still discussing the commercial terms of the proposal.
A spokesman for Eni told Reuters that no licence has yet been awarded to the Italian energy group and its partners. The bid was held in 2018 and suspended in 2020 and has not yet been completed, the spokesman said.
The stake of the joint bidder cannot be disclosed but it is below 33%, in line with the applicable sanctions regime, he added.
Lukoil-Eni Congo license bid moves forward, not yet awarded
Terms And Conditions
© 2007-2023 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.