“Naftogaz of Ukraine” will hired the investment company Lazard Freres SAS (France), acting as the Advisor to the restructuring of public debt of Ukraine, to assist in the possible sale of assets of Naftogaz in Egypt .

As stated in the NAC and ad in the ProZorro, the cost of services Lazard will be $1.25 million, which is $200 thousand less than the expected cost of purchase.

“Naftogaz” explained that twice (on 31 March and 17 may) announced open tender for the selection of investamerica, but both times the sentences they were applied only to Lazard, in connection with what was used in the negotiation procedure.

The duties of the Advisor include, in particular, the analysis and recommendations in relation to the current market situation conducted and planned similar transactions, the necessary measures to maximize the investment value of the assets with a view to the adoption of “Naftogaz” the final decision on whether the sale of assets in Egypt.

In addition, Lazard will create a list of potential investors and possible ways of their involvement, organization of negotiations with investors, and in the case of the relevant decisions – by structuring the transaction or transactions.

The period of service until 31 December 2018.

Specializiruetsya Lazard in the investment banking services that has branches in 43 cities and 27 countries, and in 2016 completed 264 deals worth $347 billion.

As reported, the head of Board of “Naftogaz” Andrey Kobelev at the end of 2016, announced that the state holding is considering selling the company’s assets in Egypt, because this business does not bring much income in response to falling oil prices.

Chief commercial officer of Naftogaz Yuriy Vitrenko in February 2017 announced plans to engage an investment banking Advisor, who will assess how much you can gain in the sale of assets in Egypt. According to him, if the assessment exceeds the company’s expectations, NAC will put the issue of selling Egyptian assets to the Supervisory Board and the government.

“Naftogaz” through its subsidiary “Zakordonnaftogaz” carries out the exploration and exploitation of two oil and gas blocks in the Eastern desert of Egypt – South Wadi El Mahareeth and Wadi El Mahareeth. Working on these blocks, inferred resource of more than 360 million tons of oil have proceeded on the basis of concession agreements, signed on 7 February 2012 between “Zakordonnaftogaz” on behalf of “Naftogaz”, on the one hand, and the government of the Arab Republic of Egypt and the State oil company GANOPE (Ganoub El – Wadi Holding Petroleum Company), on the other. The duration of the concession agreements is 28 years.

“Naftogaz Ukraine” unites the largest oil and gas enterprises of the country. The holding is a monopolist on transit and storage of natural gas in underground storage, and oil transportation by pipeline transport through the territory of the country.