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Vol 62 No 19

Published 23rd September 2021


Deepwater oil deal hits a glitch

A Russian partner expresses concern at government plans to buy into oil licence

Lukoil, a Russian energy company, has written to Matthew Opoku Prempeh, Ghana's Minister of Energy, to express concern about the government's plans to buy into Deepwater Tano/Cape Three Points, an oil licence in which Lukoil has a 38% stake. Ivan Romanovsky, Lukoil's Vice-President for the Americas, Western Africa and Europe, wrote to Prempeh on 9 August, complaining that he had not been informed over the proposed transaction, which 'may introduce significant risks' for the project execution and schedule.

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