Lukoil signs Cameroon offshore development deal for Etinde field

Lukoil signs Cameroon offshore development deal: The privately-owned Russian company Lukoil has signed a contract  for the development of the Etinde hydrocarbon field  in Cameroon’s waters in the Gulf of Guinea close to its border with Equatorial Guinea’s Bioko Island. Lukoil owns 30 % of the West African project with the rest split between operator New Age  30% Bowleven (20%) and Societe Nationale des Hydrocarbures of Cameroon (20%) and the field will now be developed on the basis of a long-standing production-sharing agreement (PSA).  Etinde includes three license blocks with a total area of 2,300 km².

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