Russia's biggest private oil producer, Lukoil, has revealed details of a new acquisition in Sierra Leone about which International Oil Daily was the first to report (IOD Jul.12'11). The company has officially announced that wholly owned subsidiary Lukoil Overseas has agreed to buy from Nigerian Oranto Petroleum a 49% stake in the project to explore and develop deepwater Block SL-5-11 offshore Sierra Leone. It has declined to disclose the price, but sources say the acquisition cost several tens of millions of dollars.
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