Naftogaz Ukrainy has hired Lazard Freres SAS as a consulting company to advise it on the sale of its Egyptian assets, reports Amwal Al Ghad.
Lazard will advise Naftogaz on the sale of its concessional rights and liabilities, potential buyers for its assets, the best timing for future sales, and steps to maximize the return on its assets.
Naftogaz will pay Lazard $1.25 million, Kyiv Post reports.
The company has struggled to sell its Egyptian assets. These assets include two oil and gas blocks— South Wadi El Mahareeth and Wadi El Mahareeth—in the Eastern Desert. Naftogaz operates the sites through its subsidiary, Zakordonnaftogaz, according to Egypt Oil & Gas.