Support The Moscow Times!

LUKoil Spends Big in Africa

LUKoil has invested around $1 billion in investment projects in West Africa, said Andrei Kuzyayev, head of Lukoil Overseas.

"We aren't ruling out developing the gas business in the region at future stages. Russia has a chance in Africa, and we shouldn't let it slip by." Kuzyayev said, Interfax reported.

Lukoil Overseas acquired the rights to become the operator of the offshore exploration projects CI-101 and CI-401 in the Ivory Coast and Cape Three Points Deep Water in Ghana from the Vanco group at the end of May. Lukoil Overseas also signed an agreement to acquire Vanco Exploration.

(MT)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.