Russia’s Lukoil said July 27 that it has reached an agreement with Cairn Energy to take a 40% stake in the Rufisque, Sangomar and Sangomar Deep (RSSD) project offshore Senegal for $300 million. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Lukoil is expanding its presence in Africa at a time when the Russian government has identified the continent as a priority for expanding overseas energy cooperation. Lukoil is playing a key role in this strategy. Late last year it won a license for a gas-rich exploration block off Equatorial Guinea that contains the stalled Fortuna LNG project. It also has stakes in projects in Egypt, Ghana, Nigeria and Cameroon. The RSSD project includes blocks covering an area of 2,212 square kilometers, located 80 kilometers […]