National joint-stock company Naftogaz Ukrainy has announced a tender to provide investment banking services related to Naftogaz upstream assets in Egypt and search for potential buyers.

According to a company announcement in the ProZorro e-procurement system, a selected advisor shall analyze and consult on the potential basis for sale of rights and liabilities under concession agreements, select the best time for the deal, propose measures to maximize investment value of the assets and make up a list potential investors and options for their involvement.

The expected cost of the deal is UAH 39.325 million (VAT included) or $1.45 million.

Bids can be submitted before May 3, 2017. The services are to be delivered before December 31, 2018.

Naftogaz said that the participants must be listed among the top financial advisors in announced M&A agreements in the oil and fuel industry in Europe, the Middle East and Africa.