News In Brief: Lukoil Increases Frontier Stake

News: Russian oil company Lukoil has signed a deal with the government of Côte d'Ivoire to carry out offshore oil exploration activities in the country, reports Reuters. The company is experiencing a decline in its output in Russia, owing to falling production at depleted oil fields in Western Siberia. This has led the company to seek opportunities overseas. The company is already working at an adjacent block in Côte d'Ivoire.

This article is tagged to:
Sector: Oil & Gas
Geography: Cote d`Ivoire