CEO: Russia’s Lukoil in talks over deep-water block in Ghana

SOCHI, Oct 23 (PRIME) -- Russian oil major Lukoil is holding negotiations with the Ghana on development of a deep-water block in the country, CEO Vagit Alekperov told reporters on Wednesday during the Russia–Africa forum.

“We are holding rather active negotiations with the government of Ghana jointly with Aker on a deep-water block, I hope that we will hold several joint negotiations, including a meeting with Ghana’s authorities here…I hope that we will finish the negotiation process until the end of the year,” he said.

The Russian company also plans to expand its presence in the Republic of Congo with Italy’s Eni. Lukoil bought 25% in Marine XII offshore block in Congo, where Eni is the operator, in September.

“We also wish to expand our presence there jointly with Eni,” he said, adding that the works on the block have already started.

He also said that Lukoil held no negotiations with Brazil’s Petrobras over buying the company’s assets in Nigeria. Earlier in October, Nigeria’s Energy Ministry said on its Twitter page that Lukoil was interested in buying the stake of Petrobras in two production projects in the country.

“We held no negotiations with Petrobras,” Alekperov said.

All projects in Africa are economically profitable under the oil price of about U.S. $60 per barrel, he said.

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