Russian oil company Lukoil said on Tuesday it had closed a deal to develop the Etinde offshore block in the Gulf of Guinea off Cameroon.
Lukoil owns 30% in the project in West Africa, with the rest split between New Age Ltd. (30%, operator), Bowleven Plc (20%) and Societe Nationale des Hydrocarbures of Cameroon (20%).
On Monday, Lukoil said the share Lukoil Overseas— its foreign unit— in the firm's total oil production rose to 10% in 2014 from 4.4% in 2013.
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