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LUKOIL of Russia hopeful of more oil in Ghana

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The second largest Russian oil producer, LUKOIL is optimistic it will hit oil in commercial quantities in Ghana.

A Reuters news service report cited LUKOIL’s vice president for overseas saying its offshore oil exploration project in Ghana will almost certainly lead to commercial exploitation.

LUKOIL, the report says leads an oil joint-venture with Vanco and Ghana’s National Petroleum Corporation (GNPC) for exploration and production at Ghana’s offshore Cape Three Points Deep Water.

“We are almost certain that we will have commercial development,” Dmitry Timoshenko was quoted as saying at a press conference in Moscow with Ghana’s Energy Minister Joe Oteng-Adjei.

By Emmanuel K. Dogbevi

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One comment

  1. I visit ghanabusinessnews several times in a day to look for updates, and to read your interesting and useful reports. Thanks to Mr. Dogbevi for being active in feeding us with reports from the motherland! Please keep it up! Nonetheless, I find it amazing as to how all these oil giants keep feeding us with their discoveries; but I am yet to read any story/report on how they plan to help improve the lives and livelihoods of residents of those areas, such as infrastructure, health, portable water, sanitation, education, jobs, women empowerment, etc. just to name a few. Or did I miss any related story/report? Thanks, Ali