Lukoil to acquire interest in Etinde offshore Cameroon

OAO Lukoil plans to acquire 37.5% interest in the Etinde production sharing agreement offshore Cameroon from Bowleven PLC (OGJ Online, Feb. 25, 2013).

Lukoil said the transaction will be completed upon approval by Bowleven shareholders and the government of Cameroon.

In addition, New Age (African Global Energy) Ltd. will acquire another 12.5% from Bowleven, bringing New Age’s total to 37.5%.  When both transactions are closed, Bowleven will retain 25% and yield its rights as project operator to New Age.

Etinde includes three blocks covering 2,300 sq km in the Gulf of Guinea near the border with Equatorial Guinea.

Sixteen wells have been drilled at Etinde, and two more are scheduled for 2015. A final investment decision regarding further development is expected in 2015.

Related Articles

INTERNATIONAL BRIEFS

01/01/1990 WESTCOAST ENERGY INC., Vancouver, B.C., agreed to buy the utilities and propane business of Inter-City Gas Corp. (ICG), Winnipeg, Man., for $720 mi...

OWNERSHIP QUESTIONS CAN STYMIE DEVELOPMENT OF COALBED METHANE

01/01/1990 Although the technology exists for commercial recovery of coalbed methane, production has been hindered because of the legal quandary as to ownersh...

OIL FLOW RISING IN E. CHINA REGION

01/01/1990 Production is building from an oil producing area in the lower reaches of the Yangtze River in eastern China's Jiangsu Province. The northern J...

GAS EXPLORATION FANS OUT MIN ARKOMA BASIN

01/01/1990 Gas exploration is heating up in the South Central Arkoma basin's pre-Pennsylvanian formations. Several operators are targeting Siluro-Devonian...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected