Congo President discusses with Russia’s Lukoil its participation in oil tasks in his nation

Congo – The President of the Republic of the Congo, Denis Sassou Nguesso, confirmed in an interview with RIA Novosti that he mentioned throughout his go to to Moscow with Lukoil its participation in oil tasks in his nation.

The Congolese President indicated that he sees actually good prospects for Lukoil’s work as an organization working oil tasks in his nation.

It’s identified that Lukoil is at present working within the Republic of the Congo as a participant within the Marine XII oil and fuel undertaking. The Russian firm acquired 25% on this undertaking from the British firm New Age M12 Holdings Restricted in 2019. The Italian firm Eni (undertaking operator with 65%) and the State Oil Firm of the Republic of Congo (10%) additionally take part on this undertaking.

“Lukoil additionally needs to acquire licenses for oil manufacturing, beneath which the corporate can act as an operator,” Sassou Nguesso added. “We mentioned this challenge this morning and there are good prospects.”

The Congolese President expressed his perception that, after negotiations, the Russian firm will get hold of the required permits and can have the ability to function oil and fuel manufacturing in his nation.

In March 2023, Lukoil said that it was discussing with Congo getting into into new tasks on this nation as an operator. The corporate said that it’s working in Congo on the Marine XII undertaking, which is managed by the Italian firm Eni. The Russian firm burdened the significance of this undertaking to it.

In October 2019, a bunch of corporations, together with the Russian Export Heart, signed a four-way memorandum of understanding to construct a pipeline to move petroleum merchandise within the Republic of the Congo, which is wealthy in pure sources.

Supply: Novosti