A consortium made up of France’s Total, Italy’s ENI and Russia’s Novatek submitted bids for block 4 and block 9.
Do these companies have the required criteria in terms of expertise, financial means and technology for petroleum activities?
Total submitted the bid as a Right Holder Operator; it is French multinational integrated oil and gas company and one of the six supermajor oil companies in the world. It employs around 103 thousand people and operates in more than 130 countries. Total is listed in the Stock exchanges of Paris, New York, London and Brussels. It is a signatory of the Extractive Industries Transparency Initiative since its inception in 2002.
ENI is an integrated company constantly ranking among the top 100 on Fortune Global 500 list for largest companies by revenue. It employs around 31 thousand people, operates in 73 countries and had discovered 16 new exploratory wells in 2016. It is listed on both New York and Milan stock exchanges.
Novatek is one of the largest independent natural gas producers in Russia. It employs around 6000 people and operates mainly in Siberia, it has 39 licenses on exploration and production in Yamal-Nenets Autonomous region in Western Siberia.
For more details, watch the full report in the video above