KYIV, Aug. 21 - Ukraine's national energy company Naftogaz Ukrayiny plans to hire French investment bank Lazard to explore possibility of selling its oil producing assets in Egypt, the company said Monday.

Naftogaz said it will probably pay $1.25 million for Lazard to come up with “a list of potential investors and to draft commercial contract to carry out the transaction.” Naftogaz plans to sell the assets by the end of 2018.