Russia's Lukoil has joined Italy's Eni in a producing licence off Congo-Brazzaville after buying out NewAge’s stake in an all-cash deal worth $800 million.
Lukoil has taken the privately held player’s 25% interest in the Marine XII licence that is operated by Eni and hosts five discoveries, including the large producing Nene field.
Nene is a phased development, with both phase one and phase 2A already online and phase 2B scheduled to come online in the second half of the year.
