Russian Sanctions Cause Delay in Lukoil Cameroon Project

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Researched by Industrial Info Resources (Sugar Land, Texas)--Lukoil Overseas UK Limited, a subsidiary of PJSC Lukoil Oil Company (Moscow, Russia), has a 37.5% share in the Etinde permit concession offshore Cameroon. Sanctions imposed on Lukoil put the project's development plans at risk, consequently causing a delay in the final investment decision, which was originally planned for early this year. This delay will not only impact progress at the Etinde permit, but also will have a knock-on effect on other associated development plans dependent on the Etinde natural gas resource, such as the proposed natural gas processing plant at Limbe.

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