print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all LUKOIL Oil Company press releases

LUKOIL Oil Company

June 24, 2014

LUKOIL joins shelf project in Cameroon

LUKOIL has acquired a 37.5-percent interest from the British company Bowleven Plc in the development project of the Etinde site at Cameroons shelf as part of a production-sharing agreement (PSA).

The transaction will be completed upon approval on the part of Bowleven Plcs shareholders and the government of Cameroon.

The Etinde site is located in the Gulf of Guinea near the border with Equatorial Guinea and includes three license blocks with a total area of 2,300 square kilometers.

Thirteen out of the sixteen wells drilled at the site demonstrated positive results, and the discovered reserves are now being appraised. The drilling of two more wells is scheduled for next year. The final investment decision upon the expediency of further development of the site is expected to be made in 2015.

Alongside with LUKOIL, the British company New Age (African Global Energy), already the holder of a 25-percent stake, acquires another 12.5% in the Etinde PSA from Bowleven Plc.

When both transactions are closed, Bowleven Plc will retain 25% in the Etinde PSA and yield to New Age its rights as the project operator.

 

 

 

Search by industry

Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer