Deals
Congo Wants to Sell Gertler’s Oil Blocks on Ugandan Border
- Sanctioned billionaire could receive as much as $150 million
- Tullow discussed Lake Albert blocks with Congo’s government
An oil exploration tower on the shore of Lake Albert.
Photographer: Walter Astrada/AFP via Getty Images
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The Democratic Republic of Congo is forming a plan to take back two oil blocks from sanctioned Israeli billionaire Dan Gertler and sell them to another company.
The Congolese government has talked to Tullow Oil Plc about purchasing a stake in the Lake Albert licenses along the country’s border with Uganda, said four people with knowledge of the discussions. Total SA and Eni SpA had also showed some interest, two of the people said.
Tullow declined to comment. Eni said in an emailed statement that it isn’t interested in the blocks. A spokeswoman for Total said the company has left Congo and isn’t interested in the licenses.