Deal: Russian Lukoil Buys 65% Of Ivorian Oil Block From Nigerian Company

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Russian oil company Lukoil has acquired a 65 percent stake in the exploration, development and production project on block CI-504 offshore the Republic of Cote d’Ivoire in the Gulf of Guinea.

Lukoil, the largest privately held oil company in Russia, said in a statement Tuesday that the stake in the offshore oil block was acquired from a private Nigerian company Taleveras Energy, which will still retain 25 percent after this transaction.