Lukoil, Nigerian National Petroleum Corporation ink MoU

Lukoil, Nigerian National Petroleum Corporation ink MoU
Published: 27 October 2019 - 3 a.m.
By: Martin Menachery
President of Lukoil Vagit Alekperov and Nigerian National Petroleum Corporation (NNPC) Group managing director Mele K Kyari signed a memorandum of understanding (MoU) between the companies. The MoU was signed at the Russia-Africa economic forum in Sochi.

According to the MoU, the parties intend to consider possible cooperation in the exploration, production and refining of hydrocarbons in Nigeria as well as upscaling existing trading relationship.

The document also provides for possible design and technical cooperation between the companies and the provision of Lukoil's know-how in the implementation of production and refining projects.

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