Lukoil buys 65% stake in Ivory Coast upstream project

6/12/2013

Lukoil buys 65% stake in Ivory Coast upstream project

BY JAMES MARSON

MOSCOW -- Lukoil,said it has bought a 65% stake in an offshore upstream project off the Ivory Coast.

Lukoil bought the stake in the CI-504 block in the Gulf of Guinea from Taleveras Energy, which will retain a 25% share, the Russian firm said. The remaining 10% is held by PETROCI Holding.

Lukoil has in recent years sought to develop projects abroad to offset dwindling output at its Soviet-era fields in Russia.

Dow Jones Newswires

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