Russia’s Rosneft, Lukoil, Novatek File Bids for Lebanese Fields

April 4, 2013

Russian oil and gas companies Rosneft, Lukoil, and Novatek have applied to participate in a tender for the geologic exploration of Lebanese shelf fields, Lebanon’s Ministry of Energy and Water said in a statement on Wednesday.

Local authorities will shortlist companies on April 18 and will begin the second round of a tender on May 2.

The Russian companies want minority stakes in the projects They must provide proof of at least U.S. $500 million assets before being shortlisted.

Rosneft and Lukoil will participate independently, while Novatek has submitted a joint bid with Gazprombank’s afe filiate GPB Resources.

Total, ExxonMobil, Сhevron, Eni, Statoil, Shell from Europe and the U.S., as well as Japanese, Korean, and Indian companies, have also applied to participate in the tender.

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