Lukoil to spend $600 million drilling five wells in Africa in 2013

12/6/2012

Lukoil to spend $600 million drilling five wells in Africa in 2013

BY JAMES MARSON

MOSCOW -- Lukoil will drill five wells in Africa next year at a cost of $600 million, a senior company executive said on the sidelines of the Energy Intelligence conference in Moscow. 

Russia's second largest oil producer will drill three wells in the Ivory Coast, one in Ghana and one in Sierra Leone, said Andrey Kuzyaev, President of Lukoil overseas.

Lukoil has looked abroad to offset declining Russian production in recent years.

Dow Jones Newswires

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