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Russia’s Lukoil pays $185 million for stake in Cameroon field

According to Lukoil, 13 out of 16 drilled wells on the field hold oil
Lukoil headquarters in Moscow EPA PHOTO YURI KOCHETKOV
Lukoil headquarters in Moscow
© EPA PHOTO YURI KOCHETKOV

Russian major private oil company LUKOIL has acquired a $185 million worth 37.5% stake in Etinde project off Cameroon from Bowleven, Africa-focused exploration group, in a production-sharing contract (PSC), the Russian and British companies report.