Lukoil, Russian oil and gas super major and one of the largest publicly traded oil firms globally is looking for new opportunities in oil and gas projects to expand its investments in Africa, especially West Africa, a top official of the firm has revealed.
Lukoil has presence in 30 countries in the world and in Africa it operates in Egypt, Ghana, Nigeria, Congo and Cameroon.
So far Lukoil has invested more than 4billion in Africa.
Speaking to Africa Oil Week delegates at a reception hosted by Lukoil, Senior Vice President of Lukoil in-charge of Upstream International, Denis V. Rogachev said the company is interested in expanding its geography and looking into new opportunities in oil and gas projects in Africa.
He said West Africa will be among key regions for Lukoil to invest outside Russia.
The company, he said, believes this ‘new investments will stimulate economic development as well as create new jobs in the region.’
Talking about its operations in the countries where it has established its presence, Mr. Rogachev said Lukoil follows the sustainable development principles, including a responsible social policy towards its employees and local communities.
With the outbreak of Coronavirus in 2019 in China and later spreading across the world endangering lives with oil prices tumbling Mr. Rogachev said the company managed to protect the health of its employees and clients, ensured uninterrupted operation and maintained financial stability.
Rogachev said the company’s sound financial position on the global market as well as advanced competencies and expertise in implementing megaprojects make Lukoil one of the leading companies ready to invest in oil and gas sector in Africa.
Source: https://energynewsafrica.com
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