LekOil to acquire near-term production assets in Nigeria - A 90% - TopicsExpress

LekOil to acquire near-term production assets in Nigeria - A 90% owned Nigerian subsidiary of LekOil (LON:LEK) has struck a deal to acquire a 40% stake in oil assets in the Niger Delta, which could be in production within 12 to 18 months. To acquire the stake in the Otakikpo marginal field, LekOil Nigeria will pay US$11mln in cash and will commit to spending US$67mln on field development. Otakikpo is located near existing infrastructure and it is estimated to contain ... ow.ly/2GVy0F

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