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GLNG AFRICA GLNG

Lukoil says Marine XII offshore Congo

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

P8 www. NEWSBASE .com Week 12 24•March•2023