Lekoil secures US$184m from Qatar Investment Authority to develop Nigerian oil field

NIGERIA – LEKOIL oil and gas exploration and production company with a focus on Nigeria and West Africa, has secured funding for the appraisal drilling and initial development programme activities on the Ogo field within OPL 310. The facility being provided by Qatar Investment Authority, the sovereign wealth fund of the State of Qatar (“QIA”) in the amount of US$184.0 million will be disbursed in five (5) tranches over eleven (11) months. The first drawdown is intended to occur in February 2020. The Facility, which has a tenure of seven…

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