CONGO-B Mercuria opens purse strings to save Marine XI deal

摘要

The Geneva-based trading house is pulling out all the stops to pick up the concession previously operated by Soco. As Africa Energy Intelligence understands, Societe nationale des petroles du Congo (SNPC) managing director, Raoul Ominga, has been to Geneva at least three times since the beginning of the year to meet up with Mercuria chief executive Marco Dunand and his teams. Dunand has been trying to convince the SNPC boss to pressure Congo-B’s ministry of hydrocarbons to allow the trader to purchase the 40% of Marine XI previously owned by Soco. By the same token, Mercuria would take over the oil company’s role of operator of the offshore permit. Several commercially viable fields have been discovered on the block that Mercuria indirectly holds a stake via funding of the field partners WNR. So far the trading house has forked out nearly $60 million. WNR, headed by French businessman Gad Cohen, also bid, though unsuccessfully (AEI 839), to purchase Soco’s shares from its own pocket.