Saudi company Midad Energy is considered one of the leading contenders to buy Lukoil's international assets, Reuters reported, citing its sources.
Midad Energy plans to acquire Lukoil's assets in full. US companies may also participate in the deal.
In October, the US and Britain added Lukoil to their sanctions lists, after which Lukoil announced its intention to sell its international assets and received an offer from international oil trader Gunvor to acquire Lukoil International GmbH, which owns the Russian company's international assets. However, Gunvor later announced that it was withdrawing its offer to purchase Lukoil's foreign assets after the US Treasury Department stated that it did not intend to grant Gunvor a license to operate and generate profits until the conflict in Ukraine was resolved.
On November 14, Lukoil representatives announced that the company was negotiating the sale of its foreign assets with several potential buyers and would announce the deal once final agreements were reached and the necessary permits were obtained.