LEKOIL has announced that the Otakikpo Joint Venture which is made up of Green Energy International Limited (‘GEIL’), the Operator of the Otakikpo Marginal Field, and the Technical Partner, LEKOIL Oil and Gas Investments Limited (‘LOGL’), in which the Company has a 90 per cent. economic interest, has executed definitive agreements for the next phase of the Otakikpo marginal field development.

Further to the execution of a non-binding Memorandum of Understanding (‘MOU’), the Otakikpo JV has executed additional service agreements with Schlumberger which cover the comprehensive infrastructure upgrades and field management services in relation to the planned upstream drilling programme.

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Source: EnergyPedia