Friday, April 06, 2012

Lukoil to Invest $100 Million in Sierra Leone

Russian oil company Lukoil will invest some $100 million (76 million euros) on oil exploration in Sierra Leone, which is luring big investments to its west African coast after several oil finds.

"We are going to invest $100 million in the first phase of an oil exploration venture in the first quarter of 2013," Lukoil vice-president Anatoli Katoshin told AFP after opening the company's office in the capital.

"We are here and we are ready to work with zeal," he said.

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Oil&Gas Journal has more over here.

Related: Foreign Confidential™ Says Sierra Leone Poised for Oil Production