Lukoil has reached an agreement with New Age to take over the latterâs 25% interest in the Marine XII block for USD 800 MM cash. Marine XII (42 sq km) also engulfs the Litchendjili Marin, Minsala, Nene-Banga and Nkala exploitation leases, total 571 sq km in WD 20-90m. The deal is subject to usual approvals. Currently Eni (op), partner-to-be Lukoil + SNPC.
Lukoil has agreed to buy NewAge's entire 25% stake in the Marine XII block (Eni op. 65%, SNPC 10%) for US$800 MM.