President of PJSC LUKOIL Vagit Alekperov and Nigerian National Petroleum Corporation (NNPC) Group Managing Director Mele K Kyari signed a Memorandum of Understanding between the companies. Memorandum was signed at the Russia-Africa economic forum in Sochi.
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 relationships.
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.
