Lukoil made an agreement with New Age M12 Holdings Limited on acquisition of a 25% stake in the Marine XII gas project in the Republic of the Congo in the second quarter of 2019, the company reportedon Wednesday
"The deal amounts to $800 mln, including $60 mln paid as a security deposit. The deal will be closed after conditions precedent are met, including approval by the government of the Republic of the Congo," the company said.
Lukoil plans to join the project in Congo and considers an opportunity of producing liquefied natural gas, chief executive of the company, Vagit Alekperov said earlier.
Production is already underway under the project, gas is produced, injected into the bed and supplied to the power plant and oil is exported, the top manager noted.
(tass.com)
