Exploration: News for Oil & Gas and Hydrocarbon Industries  Membership Services »
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals Community | My Account Gulfoilandgas rss feed Follow us on Facebook  Jobs 
Products and vendors Services and providers Oil & Gas Software and publications

LUKOIL to Spend $100 Million on Sierra Leone Block

Source: Reuters 4/6/2012, Location: Africa

Share |

LUKOIL will invest $100 million to launch exploration activities on its offshore block in Sierra Leone, a company official said.

LUKOIL, which has struggled to replace production with new reserves, is pinning its hopes on new overseas ventures and bought a 49 percent stake in the offshore block last year as part of efforts to build its portfolio of African oil assets. Company geologists plan to drill a first exploration well on the block by the end of the year with positive results leading to a possible expansion of its operations in Sierra Leone.

"If we are successful in the exercise on the first block, we hope to embark on another block in the future," Anatoly Katoshin, LUKOIL's vice-president for exploration, told journalists in Sierra Leone's capital, Freetown. Oil majors are jostling for stakes in offshore blocks in West Africa's Gulf of Guinea as global on-land oil supplies become more scarce. LUKOIL has already drilled several wells in the Gulf of Guinea as part of a joint venture with Texas-based Vanco and Ghana's National Petroleum Corporation. It hopes to find reserves of 150-250 million barrels of oil. It is also carrying out offshore exploration in Ivory Coast.

Exploration News in Sierra Leone >>

Further Update on the Deep Discovery at BNG & Galaz
  Kazakhstan >>  8/19/2014 - Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to further update the market with news of the deep discovery at its...
Drilling Operations Re-commencing in Licence 61
  Russia >>  8/19/2014 - PetroNeft, an oil & gas exploration and production company operating in the Tomsk Oblast, Russian Federation, is pleased to announce a number of signi...

United Provides Information on its Lake Chad Oil Block
  Chad >>  8/18/2014 - United Hydrocarbon International Corp is pleased to report that a recent press release published by the government of Niger dated November 13, 2013, i...
The President of Gabon Meets with Eni's CEO
  Gabon >>  8/18/2014 - The President of Gabon, Ali Bongo Ondimba, and Eni’s Chief Executive Officer, Claudio Descalzi, met in Libreville. The topic of the meeting was the im...

CCH Approved Re Ksar Hadada License
  Tunisia >>  8/18/2014 - Independent Resources has now received formal confirmation that the meeting of the Consultative Commission on Hydrocarbons of Tunisia ("CCH"), held on...
Cygam Receives Extension of Sud Tozeur Permit
  Tunisia >>  8/18/2014 - Cygam Energy Inc has received approval from the Tunisian authorities for the extension of the Sud Tozeur permit in Tunisia. ...



Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Sierra Leone Oil & Gas 1 >> 

More News

Oil & Gas Projects in Sierra Leone >>

Oil & Gas Companies in Sierra Leone >>

Related Links

Countries Quick Links

AO BJ BW CD CG CI CM DZ EG EH ET GA GF GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas E-Marketplace - Promote your Business - About Us
Copyright © Universal Solutions All rights reserved. Privacy Policy. - Contact Us