A Review of the Nigerian Energy Industry

Lukoil inks agreement on offshore block in Cote-d’Ivoire

04 October 2012, Sweetcrude, ABIDJAN – RUSSIA’s Lukoil Overseas, subsidiary of Lukoil, has signed a production sharing agreement with the government of Cote-d’Ivoire on the offshore block CI-524 in the Gulf of Guinea.

Block CI-524 covering the area of 450 square kilometres in water depth ranging from 800 to 1,500 metres represents an eastern part of block CI-401 which Lukoil Overseas has been exploring since 2006.

Lukoil Oversea is the operator of the block and holds a 60% interest. PanAtlantic (former Vanco) has 30% and state-owned PETROCI Holding, 10%.

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