Nigerian Energy Company, Lekoil Limited needs to raise around $100 million before it can start drilling in its Ogo oilfield, its chief executive said. Lekoil reached a deferred payment deal earlier this year to keep its stake in OML 310, where Ogo sits, after it discovered a $184 million loan it wanted to use for the purchase was fraudulent. Chief Executive Lekan Akinyanmi said the company was able to finance much of the Ogo preparation work with cash from its producing field, Otakikpo, and will drill once it raises the…
Read MoreNigeria’s Lekoil hunts for lenders’ $100m Ogo oilfield drilling investment
