Page 9 - DMEA Week 12 2023
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DMEA COMPANIES DMEA
Lukoil says Marine XII offshore to
start producing LNG in December
CONGO RUSSIA’S largest privately owned oil producer, Marine 24 and Marine 31
Lukoil, says that Marine XII, a licence area In related news, Lukoil is also reportedly seeking
located offshore the Republic of Congo (ROC) in to wrap up a long-stalled effort to acquire addi-
which it is a minority shareholder, is set to begin tional acreage offshore ROC.
producing LNG before the end of 2023. On March 17, Interfax reported that the Rus-
Ivan Romanovsky, Lukoil’s vice president, sian company had teamed up with Eni to submit
was quoted by Russian press agencies as saying a joint bid for two blocks – Marine XXIV and
on March 20 that Marine XII would start turn- Marine XXXI. It quoted a Lukoil executive as
ing out LNG in December. Production will com- saying that the partners had submitted their pro-
mence at the rate of 600,000 tonnes per year and posal and were waiting for Brazzaville’s response.
rise to 3mn tpy by the end of 2025, he stated. According to the executive, the Russian and Ital-
Romanovsky’s remarks are in line with state- ian partners were the only party to make an offer
ments made previously by Eni (Italy), the oper- for the blocks.
ator of Marine XII. Eni, which holds a majority No details of the bid were available as of press
stake in the block, has already announced plans time, and the Lukoil source told Interfax that his
to install two floating LNG (FLNG) vessels at company was still discussing the exact terms of
Marine XII within the framework of a plan to the offer.
utilise and monetise the block’s natural and asso- For its part, Reuters contacted Eni in an
ciated gas reserves. attempt to confirm the Interfax report. The Ital-
These two units – the existing 600,000 tpy ian major responded by saying that ROC author-
Tango FLNG purchased from Belgium’s Exmar ities had not yet awarded a contract for Marine
last August and a newbuild 2.4mn tpy FLNG XXIV and Marine XXXI. It also said that it could
ordered from China’s Wison last January – will not reveal the exact size of Lukoil’s proposed
have a combined capacity of 3mn tpy. stake in the two Congolese blocks but stressed
Lukoil joined the Marine XII project in 2019, that the Russian company’s holdings would be
when it acquired a 25% stake. less than 33%, in line with the terms of the sanc-
Its participation is not subject to interna- tions regime. Lukoil has been trying to buy into
tional sanctions since its holdings amount to less Marine XXIV and Marine XXXI for more than
than 33%. The remaining equity in the block is three years. Brazzaville put the blocks up for sale
divided between Eni (operator), with 65%, and in 2018 and announced the following year that
ROC’s national oil company (NOC), known Eni and Lukoil, the sole bidders, had won the
as Société Nationale des Pétroles du Congo right to negotiate a contract. However, the sale
(SNPC), with 10%. was put on hold in 2020 and never concluded.
Week 12 23•March•2023 www. NEWSBASE .com P9
