LUKOIL has acquired a 65% share interest in the exploration, development and production project on block CI-504 offshore the Republic of Cote d'Ivoire in the Gulf of Guinea.

The share in the project was acquired from a private Nigerian company, Taleveras Energy, which will still retain 25% after this transaction. The remaining 10% in the project are held by state company PETROCI Holding. LUKOIL Overseas, a wholly-owned subsidiary of LUKOIL, will be the operator of the project.

Block CI-504 is located in close proximity to the producing Baobab field. The area of the block is 399 square kilometers, water depth ranges from 800 to 2100 meters. In the south CI-504 borders on block CI-205 which is already operated by LUKOIL.

Tags: Lukoil