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Involve LUKOIL In DWT/CTP Contract Area Share Sale Deal – Management

Lukoil
Lukoil

Management of LUKOIL have expressed concerns about the planned significant changes in the financing of the Deepwater Tano/Cape Three Points (DWT/CTP) Contract Area operated by Aker Energy Ghana Limited.

According to the Company, LUKOIL being one of the main partners in the DWT/CTP project, with a 38% License Interest and a 42.22% Partnership Interest has not been aware of and engaged in discussions about the plans of its partners to sell the stake and change the operatorship.

In a Rejoinder to media publications on the GNPC acquisition of stakes in DWT/CTP and SDWT projects, Ivan V. Romanovsky, Vice President for the Americas, Western and Europe stated that LUKOIL strongly believes that the proposals may introduce significant risks for the project execution and schedule and that in order to avoid any negative consequences for the DWT/CTP project, LUKOIL shall be directly involved in the discussion of such crucial issues regarding sale and acquisition of the Aker Energy’s share.

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It also requested to be involved in the resignation of the Operator of the DWT/CTP project and appointment of successor and further project financing plans, so as to ensure further sustainable development of the project in the interest of all stakeholders.

Letter LUKOIL IR-82 09.08.2021 (1)

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