Oil and Gas News
Lukoil Acquires Deepwater Senegal Interest from Cairn Energy
PJSC LUKOIL concluded an agreement with Cairn Energy PLC to acquire a 40% interest in RSSD (Rufisque, Sangomar and Sangomar Deep) project in the Republic of Senegal for $300 million in cash. The agreement also provides for potential bonus payment to Cairn Energy PLC of up to $100 million after the commencement of production. The transaction is subject to customary conditions, including the approval by the government of the Republic of Senegal.