Naftogaz of Ukraine made an agreement with the French company Lazard Freres SAS on providing investment banking services for UAH 32.48mln (USD 1.2mln), according to government procurement system ProZorro.
It is indicated that the deal was reached according to the negotiation procedure and not an action, due to the fact that the previous auctions did not take place becasue of lack of participants. At the first auction, there was present only LLC Ernst and Young, and on the second ─ only the current contractor.
Under the terms of the agreement, Lazard Freres will provide investment banking services for the assets of Naftogaz located in the deserts of Egypt related to the exploration, development and production of hydrocarbons terminating at the end of 2018.
It is specified that three concession agreements on oil exploration and exploitation will be put up for sale ─ first from December 13, 2006 with The Egyptian General Petroleum Corporation in the territory of Alam El Shawish in the Western Desert; second from February 7, 2012 with Ganoub El Wadi Petroleum Holding in the territory of Wadi El Mahareeth in the Eastern Desert; third from February 7, 2012 with Ganoub El Wadi Petroleum Holding in the territory of South Wadi El Mahareeth in the Eastern Desert.
