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Lukoil and NNPC sign memorandum of understanding

Published by , Editorial Assistant
Hydrocarbon Engineering,

President of PJSC LUKOIL Vagit Alekperov and Nigerian National Petroleum Corp. (NNPC) Group Managing Director Mele K Kyari have signed a memorandum of understanding between the companies. The signing took place at the Russia-Africa economic forum in Sochi, Russia.

According to the memorandum, 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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