Lukoil to buy fresh stake off Chevron in Nigeria

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Lagos — Russian oil company Lukoil has indicated interest to buy another stake from Chevron’s 40% in block 132 in Nigeria, according to the Interfax news agency, quoting the firm’s president, Vagit Alekperov.

The development comes on the heels of reports that international oil companies operating in Nigeria may be looking to selling stakes following the federal government’s review of the production sharing contracts, taxes and royalty levies to rake in more revenue from its resources.

OML-140 includes the Nsiko, Nsiko North and Ofigbo discoveries, and a minor interest in the unitized Bonga Southwest Aparo (BSWAp) Field which is operated by Shell.

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