Lukoil, Italy's Eni Submit Joint Bid For Two Offshore Blocks In Congo - Top Manager

OINTE NOIR, Republic of the Congo, March 17 (Sputnik) - Russia's Lukoil and Italy's Eni have submitted bids for offshore blocks Marine 24 and Marine 31 in the Republic of the Congo, which will be operated under a production sharing agreement; Lukoil's share in the project could reach 43%, Lukoil's vice-president for America, Africa and the Middle East, Ivan Romanovsky, told reporters

POINTE NOIR (UrduPoint News / Sputnik - 17th March, 2023) OINTE NOIR, Republic of the Congo, March 17 (Sputnik) - Russia's Lukoil and Italy's Eni have submitted bids for offshore blocks Marine 24 and Marine 31 in the Republic of the Congo, which will be operated under a production sharing agreement; Lukoil's share in the project could reach 43%, Lukoil's vice-president for America, Africa and the middle East, Ivan Romanovsky, told reporters.

"These applications were submitted jointly with Eni, and were accepted by the government. Lukoil's stake may be 43%," he said.

Romanovsky clarified that the companies were now in the process of discussing the final commercial terms for applications for the development of blocks.

"It should be noted that technically we were recognized as the winners in these applications due to the fact that we were the only companies that applied for the acquisition of these blocks," Lukoil's vice president added.