The Russian company “Lukoil” is trying to sell its stake in Ghana’s Pekan field – #Russian #company #Lukoil #sell #stake #Ghanas #Pekan #field
NEW DELHI/ LONDON, Feb 27 (Reuters) – Russia’s Lukoil ( LKOH.MM ) is in talks with Indian companies to sell its stake in the Pekan oil field near Ghana, which could help break a deadlock over submitting development plans for the field. This was reported by informed sources.
Talks between Lukoil officials and Indian companies, including ONGC Videsh, the foreign investment arm of Oil and Natural Gas Corp ( ONGC.NS ), took place on the sidelines of the India Energy Week conference this month, two Indian and two Ghanaian sources said.
One of the sources said that Russia firm talks directly with potential buyers because investment bankers are not involved due to Western sanctions against Russia.
Norway’s Aker Energy, controlled by Aker ASA ( AKER.OL ), owns 50% of the deepwater block in the Pekan field off Ghana, Lukoil 38%, Ghana National Petroleum Corp. 10% and Fueltrade owns 2%. .
ONGC, Lukoil, Aker and Ghana’s Ministry of Petroleum did not respond to requests for comment.
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Aker said the submission of Peka’s development plan to Ghanaian authorities has been delayed amid fears the project could face sanctions due to Lukoil’s involvement.
Aker ASA CEO Oyvind Eriksen said his firm is in talks with Ghanaian authorities and one option is for Lukoil to withdraw from the project.
Lukoil disputes that it poses a risk of sanctions for the project.
“The company and its management have not been subject to any sanctions, therefore there are no obstacles for the joint development of the oil field in this regard,” – said in the statement of “Lukoil”.
An Indian official said that developing the fields in Ghana is expensive because most of them contain gas that cannot be flared and that setting up a liquefaction plant is a billion said it would require an investment of more than $
Reporting by Nidhi Verma in New Delhi and Ron Bousson in London Additional reporting by Nerijus Adomaitis and Gwladys Fouche in Oslo report Edited by Mark Potter
Our standards: Thomson Reuters Trust Principles.
2023-02-27 17:44:32
Source – reuters
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