KIEV, May 4 – Naftogaz Ukrayiny has annulled a tender to provide investment banking services related to Naftogaz upstream assets in Egypt and search for potential buyers, as less than two bids were submitted.

According to a report in the ProZorro e-procurement system, only France's Lazard Frères took part in the tender.

The expected cost of the deal is UAH 39.325 million (VAT included) or $1.45 million. The services were to be delivered before December 31, 2018.