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Assessing Russia’s Relationship With Africa

Kester Kenn Klomegah

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Over the past two decades, Russia’s efforts to regain its Soviet-era influence in Africa have achieved little success because “times have changed significantly, for example, a new economic and political environment, new emerging challenges, new competitive conditions and new bases for cooperation,” according to Nataliya Zaiser, a Public Policy Advisor at Squire Patton Boggs Moscow office covering Russia, the Eurasian Union and Africa, and also the Chair (Head) of the Africa Business Initiative.

Since March 2016, Zaiser has been the Chair (Head) of Africa Business Initiative (ABI), created with the support of Russian businesses as a platform for the humanitarian, economic and legal expertise, aimed at strengthening relations between Russia and Africa. The main goal of this organization – to unite the efforts in promoting and supporting the interests of Russian businesses within the framework of broader international cooperation on the territory of the African continent.

In this exclusive interview, Nataliya Zaiser explains some of the aspects of the current Russia-African relations, problems and challenges, and its future perspectives.

As one of the participants at the St. Petersburg International Economic Forum (SPIEF) held from June 16 to 18, what were some of the significant questions raised during the Roundtable discussions on Russia and Africa?

The round table was very interesting. Both sides (Russian and African) demonstrated a strong desire for cooperation. We talked about some specifics: about the main economic sectors that various African countries are interested in most; about business diversification away from a focus on mining and oil and gas towards infrastructure projects, telecommunications and biotechnologies.

We spoke on the need to encourage the participation of small and medium size businesses in Africa; on bilateral cooperation; on the importance of the legal aspects of all these and on improving the system of legal regulation of projects, from customs and tax matters to the export licenses. The panelists also touched on enhancing cooperation with Africa in the global fight against drugs and epidemiological diseases, and combating terrorism. We listened to the companies that are active and successful on the continent; they shared some of their experiences, particularly good practice in building business relationships.

Why Russia’s efforts to regain its economic influence have achieved little success, why soft power is softer than Soviet days?

We should not say whether the power is “softer” or “harder” than in the days of the Soviet Union. It’s just different. Times have changed significantly. New economic and political environment, new challenges, new competitive conditions, new bases for cooperation. People are different, minds are different, technologies are different. In all that, we have to find absolutely different approaches and strategies to building business relationships. What remains the same is a will, a very loyal mutual attitude between Russia and African countries and strong desire to push forward these mutual efforts.

In your expert view, looking at Russia’s economic power, its global status and as a staunch member of BRICS bloc, how would you assess its current investment and business engagement with Africa?

Many organizations are trying to solve local problems and find ways for business cooperation with the African continent. The issue of investment looms, perhaps, particularly large. I think that in cooperating with African states, organizations can be guided by an approach of shared responsibility, including the financial aspects. Russia is clearly showing that open partnership with and support of Africa remains a priority. In the current conditions, it will seek ways of co-financing, co-investment and co-partnership. There may also be opportunities too for international partnerships, whether BRICS or any other groupings, formal or otherwise, on African projects.

Some policy experts have attributed Russia’s economic policy setbacks to the lack of a system of projects and business financing. For instance, China has set up China Africa Development Fund as one major source of support and implementing its projects in Africa. What are your views about this?

Russia has developed a number of business councils for cooperation both with individual African countries as well as with its own regions and neighbours. For Africa in particular, the Africa Business Initiative (ABI) offers the chance of a consolidated approach, and an independent organization that can work with the business community in Russia and at the same time combine the interests of the diplomatic community, the state, academic views and so forth.

At this stage when Russia is feverishly struggling to raise its economic profile through dialogues and consultations at the state level, do you suggest that Russia’s financial institutions, especially the banks, get involved in financing corporate projects on the continent?

Investors and lenders today understand the potential benefits of investing in emerging markets like African countries. They also understand the critical importance of addressing the political and economic risks that may accompany an investment in such markets. This is the work, which needs to be carried out. MIGA (Multilateral Investment Guarantee Agency) is one of the biggest international organizations, for example, that helps investors and lenders to deal with such risks by insuring eligible projects against losses.

In Russia, there is EXIAR (The Russian Agency for Export Credit and Investment Insurance) which was established in late 2011 as Russia’s first ever export credit agency. I am sure it has big potential and expect that they will look closely at African projects to support Russian business and guarantee the insurance and safety of their investments. In any case, for a start, it is important that Russia becomes a member or starts cooperation with key major African organizations, such as the African Development Bank, the African Union, the NEPAD, etc. That will significantly extend the boundaries for Russian-African business opportunities.

We have been talking about economic diplomacy between Russia and Africa. And it’s also important to look at the relations as a two-way road. Could you please explain the possible reasons why Africa business is extremely low or completely absent, compared to Asian countries, in the Russian Federation?

This is a good question that I want to address to you as the representative of the African diaspora (smiles). Of course, this is a bilateral cooperation. Russia is open. Africa has much to offer Russia, which is a large country and has excellent prospects in the regions, many of which are developing very rapidly and are ready to accept new partnerships, and discuss forms of cooperation. Moreover, Russian regions are facing similar problems with several African countries: the development of the agricultural sector, technological investment and progress which will support a rise in the standard of living of the population. There is a good case for creating a specific program (a roadmap if you will) for cooperation between African countries and the Russian regions.

As an expert with the reputable U.S. law firm, what would you say about the prospects of Eurasian Economic Community (Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan). Explain further what African countries can make out of this economic bloc.

There’s often a compelling case for neighbouring countries to get together and engage in some kind of union because it can facilitate and stimulate trade relations, reducing barriers without overloading them with tax and customs issues, bureaucratic procedures and other things that may mitigate mutual economic progress. I am sure Africa will take an active part in working with the Eurasian Union as with other international or supra-national organizations and alliances because this kind of cooperation opens the gates to wider initiatives.

Of course, as a global firm our trade practice in particular is a leading advisor on international economic and commercial initiatives – the Transatlantic Trade and Investment Partnership and Trans-Pacific Partnership are two obvious ones that spring to mind. Squire Patton Boggs works globally, with a powerful geographic reach of 46 offices in 21 countries. We advise clients on a wide range of legal and public policy matters.

As for Africa, by the way, we have a dedicated Africa Practice inside the firm which involves numerous specialist teams and industry groups and individual lawyers and public policy advisors who actively work with clients across the continent. With an understanding of key legal, economic and political issues that surround doing business in Africa we have established ourselves as a premier firm for Africa-based transactions offering in-depth market knowledge, extensive experience and unique transactional and public policy combination that helps companies to achieve their African business strategies.

Finally, tell us more about the newly created Africa Business Initiative (ABI), why it has become necessary at this time, its primary roles or tasks and its overall future plans?

The Africa Business Initiative (ABI) was launched and initiated primarily by businesses in Russia. The concept behind this is to develop a focal point for the promotion of business interests which would consolidate the efforts of existing structures: the diplomats, scientists, academics, consultants and so on. The key participation of Russia’s Institute for African Studies, as a serious platform for research, analysis and database, means that we can add significant insight to the actual experience of corporations that are successfully working on the ground.

The main goal is to create a pool of economic expertise aimed at revitalizing the “chemistry” in African-Russian business relationships. It has been widely acknowledged many times that Africa is on the path towards economic prosperity. The economies of many African states are becoming more balanced and there have been a lot of institutional transformations. We need to fundamentally accelerate the approach, backed by a program of long-term trade, geo-economic relations and strategy that would keep pace with the ambitions of individual states. What African continent needs now is the broad development of infrastructure, agriculture, consumer goods, health care and information technology.

The Africa Business Initiative (ABI) can help outline an approach for Russian companies to come to the African market as a whole, as reliable business partners. Through this framework, it will be able to consolidate the interests of companies in different sectors; to address and promote the development of a common position on a whole range of issues; to establish joint strategic initiatives and to expand its presence in the investment field. The task is not to duplicate or simulate the activity of state bodies.

The participation of and partnership with the Institute for African Studies is very important. Historically, the Institute has been and remains the alma mater for many Africans. It has the most powerful research base in Russia, a deep knowledge about developments on the continent. Education and increasing awareness among Russian businesses is key. To understand the features of successful business in Africa, people should be well-versed in the social and political organization of all African countries, especially in their internal relationships, geographical peculiarities, and culture, in legislation, public administration, and so on.

The role of the Institute, as a partner to Africa Business Initiative (ABI), is to provide maximum assistance. Good knowledge of the legal field, regulation, competent interaction with decision-makers and government structures of African states – all these constitute the key to a mutually beneficial and balanced cooperation. The international experience and global presence of the Squire Patton Boggs, which is also one of the members of the Africa Business Initiative (ABI), allows us to assist businesses in the broader international cooperation, involving foreign colleagues and contacts that are interested in doing business in Africa.

Kester Kenn Klomegah is an independent researcher and writer on African affairs in the EurAsian region and former Soviet republics. He wrote previously for African Press Agency, African Executive and Inter Press Service. Earlier, he had worked for The Moscow Times, a reputable English newspaper. Klomegah taught part-time at the Moscow Institute of Modern Journalism. He studied international journalism and mass communication, and later spent a year at the Moscow State Institute of International Relations. He co-authored a book “AIDS/HIV and Men: Taking Risk or Taking Responsibility” published by the London-based Panos Institute. In 2004 and again in 2009, he won the Golden Word Prize for a series of analytical articles on Russia's economic cooperation with African countries.

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Africa

Paying Tribute to Mother Teresa of Somalia, Late Dr. Hawa Abdi

Ahmed Said

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image source: Vital Voices

I know this earthly life is temporary, but I felt great sorrow when I heard the passing of Dr. Hawa Abdi who died at age 73 in Somalia’s capital, Mogadishu.  Dr. Hawa Abdi helped the helpless, the ill, and the internally displaced women and children, and the weak in war-torn Somalia for decades. She studied medicine in Ukraine and In 1983, she opened a one-room clinic, on her family’s ancestral property, which over the years grew into a settlement which hosts tens of thousands of people, mainly women and children. The settlement in the Afgooye corridor, less than 15 miles from Mogadishu, includes a hospital, a school and a refugee camp.”

When Hawa Abdi was 11, her mother died due to childbirth complications, and because of the medical reason her mother lost her life, and owing to the fact that childbirth-related death was common (and still is) in sub-Saharan Africa for lack of maternity care, Hawa Abdi decided to become a doctor, especially a female gynecologist. And when the civil war broke out in Somalia in early 1990s, as many Somalis were getting displaced by the war, mainly in and around the capital, Mogadishu, more and more people, especially women and children, moved and took refuge in and around the compound of Dr. Hawa Abdi. She worked tirelessly to save lives and became a lifeline for tens of thousands of Somalis. She was not only helping the needy civilians, but the wounded of the countless warring sides in and around Mogadishu and elsewhere ended up over the years in her clinic and hospital to be treated impartially. Hawa Abdi was a selfless figure who helped her fellow countrymen and countrywomen without discriminating them based on their clan, the main malice that has been destroying Somalia for decades, the biggest factor that plunged the country into an endless civil strife.

At times, Hawa Abdi confronted the Al-Qaeda affiliated Al Shabab to save people in her camp, even when they threatened her. At certain times, some of the people in her camp fled for their lives, but she stayed in her camp no matter how dangerous it was to be fearless. That is how brave she was.

Hawa Abdi not only took risks herself, but she supported her daughters to become doctors so that they can help the needy people in their homeland, Somalia. When you look at the alternative, which is for them to live a peaceful life elsewhere, they prefer to stay in their country and help their people. This can teach the Somali people that these beautiful souls sacrificed so much by saving their fellow Somali citizens.

Hawa Abdi was a role model for millions of Somali girls and women. She braved great adversaries in life. She overcame countless challenges and showed all Somalis, even men, that one person can have a great positive impact on her country and people. She showed her African sisters and brothers, with resolve, mountains can be moved because we live in an inner-connected world where one person, one village, and one city can have a certain influence on the entire world. On the other hand, the world has become a global village, and I believe, compared to when Hawa Abdi started her venture decades ago, now we have more opportunities to do what Hawa Abdi did; the world is more connected than before, and information can be obtained faster and more efficiently. The power of the internet is amazing, and if one can have the access and ways to find and understand the right data, one can do wonderful things to change life for the better.

The news of Hawa Abdi’s death shook the Somali social media world. Many Somali social media users, including me, shared their sadness on the death of this giant woman. Rest in peace!

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Spilling Oil and Mosaic Racial Prejudices

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My heart is heavy with prayers on behalf of Mauritius  where I am blessed to be residing and working, as an oil spill catastrophe compounds the economic impacts of the COVID-19 pandemic in this idyllically beautiful though in so many ways fragile land.  Thanks with ultimate love to those in many places around the world who have texted and emailed your concerns to me  about Mauritius. Your prayers and positive thoughts are well needed and greatly appreciated. 

This tear jerking natural disaster gives us a reflection today exacerbated with  the horrible Beirut blast earlier this week and the deteriorating oil tanker in the Red Sea unattended as proxy war rages in Yemen  ; and  the profit motive  loosening of environmental protections in America,Brazil , and elsewhere in the established and emerging West. And it is impossible for us , none of us, to escape from the web of disastrous environmental   circumstances  engulfing all of us whether we believe in global warming or not-the coming further  biodiversity consequences of global warming adding rock salt to the wounds of and going beyond the present COVID 19 pandemic and its emerging mutations. 

Whether we live in the declining North and West or in  the emerging South and East in the world,  or on mainlands or on islands, the climatical catastrophes are  now causing us  all to be jolted rudely out of our beds of complacency.We  are being forced to  open our eyes without the  time to indulge in the luxurious privilege of rubbing them to get the  sleep out of our  dropping post-dreamland eyelids. 

What more will it take for we human beings to realize and act constructively about the sobering fact that physical environments and the non-human lives within  them  and what we human beings do to them have real consequences at all times.We can never afford to waste one minute ignoring anything or being careless when it comes to our environments and to non-human living animals and plants. No matter where we are or stand in any society especially one which claims to be  a democracy ,we can never afford be sleep at the wheel.We must always be alert and be proactive and preventive rather than passive and indifferent since that which is a tranquil paradise environment or a scenic port or luscious green forests or beautiful spacious plains and even impoverished and wealthy rural and urban living spaces can  in the blink of an eye go up in explosive environmental and life taking smoke or toxic spill. 

It is one thing when such environmental and life taking destructions occur beyond our human control such as an earthquake or cyclone or hurricane or volcanic eruption so long as preparations by governments and communities are made so when some mass destructive catastrophe does occur everyone no matter their wealth or poverty and cultural background are all taken care of the same quality of life way.It is the most tragic mass catastrophe which occurs when it is due to governments and communities having the ability to develop natural disaster preparation capacity though don’t bother to do so or ignore the warnings of citizens and noncitizens since  for demographic reasons they do not have the respect of the powerful to be listened to and heard for urgent action.Thus when the  natural disaster comes  those in government, private sector, and civil society power are caught flatfooted and the entire society comes to suffer in one way or another. We all become victims of our own negligence within not outside our control.

In the midst of  and in the aftermath of any natural disaster be it beyond or within human control there invariably is raised in these global social media days the human rights concern  of  the uneven ways the mass catastrophe affects the quality of life of impacted populations.  This is especially the case for the quality of life of mass natural disaster effects on  historically excluded and marginalized populations. In Mauritius it is the issue of African Kreoles; that is, those Mauritians with African descent  heritage who acknowledge their heritage though realizing  there are many Mauritians of Indian, English, and French descent with African heritage though not acknowledged let alone in more cases than a few, even known.

Yesterday evening one event I attended in the nearby Town of Rose Hill, not cancelled due to the impending oil spill disaster, was the first ever public conversation in Mauritius about racial prejudice in this  otherwise island paradise. Though there was the predicted attempt by some speakers to dilute the issue by speaking about other kinds of  non-racial social prejudices ,the focus  appropriately always came back to systemic and structural  anti-Afro- Kreol prejudice in this land  most apparent in the public and in the corporate private sectors and in interracial  dating, marriage, and family formations  in relation to Afro-Kreols . Paradoxically people here in Mauritius are so closely knitted and friendly though can be   so deeply historically divided in their racial prejudices ( Though treated kindly as a brother in most private and public places I have been in Mauritius, I have not been totally  immuned from anti-Black racism  before  or/and after I have opened my American sounding mouth.For instance , consider the Indian doctor seeing me for the first time asking me if the “Professor ” before my name was my actual title or a nickname– well we know Black people,  especially older or younger men ,no matter their nationality are not well educated and love nicknames like Prof and Doc, right?🤭😊).

Most of the speakers tried to link their concerns about historical  and contemporary anti-Afro-Kreol racial prejudice to the  globalizing  U.S.George Floyd and Black Lives Matter protest movements supplemented with American peace songs.Just as much there could have been needed attention given to how the oil spill disaster is a tragic reminder of the historic Afro-Kreol fishing industry and how much it has been excluded from  especially  corporate domestic and global trading markets and  trends towards importing fish from other countries than from their own largely Black fishermen.

But it was a good start especially with so many young people present..the future of this nation with such potential to become incredibly great. Have to start somewhere in discussing publicly such a  delicate paradoxical blemish in a society with aspirations to be a big league nation in a world where any form of racial prejudice will ultimately impede the dreams of lofty national ambitions.

 In moving forward from last night’s first public try to have a conversation about anti-Afro-Kreol racial prejudice and as the gallant efforts to contain the drifting oil continue, there is the chronic need of a more comprehensive national restorative justice initiative involving government and local community leaders developing platforms to have difficult  transparent  conversations to address the deep  societal ugliness captured in what  an Afro-Kreol sage told me soon after my arrival: as one Mauritius poet said: Mauritiuians grow two things: pineapples and prejudices.

Though Mauritiuians are indeed nice and kind  in public and in their numerous festivals and religious celebrations, what is expressed way too often  behind closed doors and in private and public unspoken or spoken preferences in who gets what when it comes to power and privilege and to decent quality of life ( including recruitment invitations to faith communities) are totally different stories. The mosaic  spillings of racial prejudices in Mauritius hidden  and usually  when mentioned explained away under the guises of words like communalism and religion  or through mere pretending that such degradation while happening don’t happen,  is a slow cancer eating away at the soul of this  truly lovely nation which needs to be brought to the surface and made to cease.That is ,if the nation wants to become in substance, not just in global measures of development, a big League global democracy. The mosaic of racial prejudices against Afro-Kreols, African and Asian immigrants,Chinese,  Francos, British,Indians, Christians, Muslims,   and Hindus in Mauritius has  created and sustained   very much taken for granted divisions of marginality and exclusion in public and private spheres of Mauritius life which wastes human resources, and create social and emotional distance anxieties and fears and contributes tremendously to brain drain of the highly talented though with devalued demographics migrating elsewhere . Unless this mosaic of deeply rooted racial prejudices is thoroughly publicly addressed, acknowledged, and properly processed and resolved through authentic restorative justice public policy designs and effectively monitored in implemented in the midst of the bare wires of racial inequality being exposed in the midst of the COVID-19 pandemic and now oil spill crisis tainting tourist attracting beaches  with obvious racialized winners and losers who always win and lose here wasting human and material resources in so many ways in the process, what will Mauritius be say next year let alone say 10 years from now as a highly vulnerable island state with such high profile ambitions of being a big league African democracy in the world?

And of course from a global perspective, Mauritius ,in reflecting about this big intricate question, is a case study for the rest of the world as  most of us around the globe  are in the midst of environmental disasters with such dire consequences for most of us residing in such unequal societies.If it is not racial prejudice, it is prejudices premised on age, caste, culture, ethnicity, gender , language, nationality, religion ,socioeconomic status  or stateless status, which construct the false dehumanizing walls which keep us apart and degrade our views of others and of ourselves about human  capacities to contribute to the well being of the  societies we develop, sustain, and change. And then when natural disaster hits elites  in private and public sectors are either prepared to address the needs of the most privileged while  at best emergency crumbs are tossed to the least among us( e.g. the pathetic COVID 19 pandemic economic aid distributions with the predictable racial disparities, in the States though virtually all over the world).Or through ignoring what the usually ignored forewarn about possible future natural disaster  due to the color of their skin or ancestry or some other source of demographic degradation,   such as per chance  being Afro-Kreol fishing men and women expressing concern about the  tilting grounded ship …and now we see.

Every competent  voice in every society is needed and it endangers society when needed competent voices are categorically ignored and otherwise devalued. Otherwise we can venture into waters with oil slick streaks  and do so totally un- necessarily with long lasting if not permanent catastrophic consequences for all of us especially for the most vulnerable and underprivileged but for all of us.

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Russia’s Lukoil Finds A New Home In Senegal

Kester Kenn Klomegah

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Undoubtedly, a number of Russian companies have largely underperformed in Africa, which experts described as primarily due to multiple reasons. Most often, Russian investors strike important investment niches that still require long-term strategies and adequate country study. Grappling with reality, there are many investment challenges including official bureaucracy and technical hitches in Africa.

Lukoil, the largest Russia’s oil company, has had a long history, going forth and back with declaration of business intentions or mere interests in tapping into oil and gas resources in Africa. In the past, Lukoil have said in separate reports about its business deals in a number of African countries including Ghana, Cote d’Ivoire, Sierra Leone and Nigeria. These are coastal countries on the Gulf of Guinea (Atlantic Ocean) in West Africa.

Besides technical and geographical hitches, Lukoil noted explicitly in its official reports that “the African leadership and government policies always pose serious problems to operations in the region.” It said that the company has been ready to observe strictly all of its obligations as a foreign investor in Africa.

Lukoil has moved to Senegal. Predominantly rural and with limited natural resources, Senegal is classified as a heavily indebted poor country, with a relatively low Human Development Index. Most of the population is on the coast and works in agriculture or other food industries. Other major industries include mining, tourism and services.

Energy is produced by private operators and sold to the Senelec Energy Corporation. According to a 2020 report by the International Energy Agency, Senegal had nearly 70% of the country connected to the national grid. Current government strategies for electrification include investments in off-grid solar and connection to the grid. Senegal has a population of approximately 15.9 million.

In spite of that, business is business. Quite recently, Lukoil, one of the largest Russia’s oil companies, publicly declared that it finally concluded an agreement with Cairn Energy PLC to acquire a 40% interest in RSSD (Rufisque, Sangomar and Sangomar Deep) project in the Republic of Senegal for $300 million in cash.

The agreement provides for potential bonus payment to Cairn Energy PLC of up to $100 million after the commencement of production. The transaction is subject to customary conditions, including the approval by the Government of the Republic of Senegal.

The blocks of the project covering 2,212 sq. km are located on the deepwater shelf of the Republic of Senegal 80 km from the shore with the sea depth of 800-2,175 meters. The blocks include two discovered fields: Sangomar and FAN.

The Final Investment Decision (FID) on the Sangomar field was taken early 2020 and the field development has begun. According to the Company’s estimates, the recoverable hydrocarbon reserves of the Sangomar field total approximately 500 million. The field is planned to be launched in 2023, with designed production level of 5 million tons of crude oil per year. 

The RSSD project is currently implemented under a production sharing agreement. Woodside is the project’s operator with 35% stake. Other participants are FAR (15%) and state-owned company Petrosen (10%).

“Entering the project with already explored reserves at early stage of their development is fully in line with our strategy and allows us reinforcing our presence in West Africa. Joining the project with qualified international partners will allow us to gain additional experience in development of offshore fields in the region,” said Vagit Alekperov, President of PJSC Lukoil.

Early this year, precisely on January 28, during his briefing with President Vladimir Putin on the 2019 performance and activities of the Lukoil holding, Vagit Alekperov noted the unique window of opportunity that opened up after the summit held with African countries late October 2019 in Sochi.

“In fact, we are beginning to work actively in West Africa: we have started working in three countries and another four have offered to launch joint work. This is unprecedented. This summit gave an impetus to Russian companies to work in one of the most promising markets: West Africa,” he told Putin in the Kremlin.

After Putin noted that it was surprising African colleagues had asked only for collaboration and nothing else, Alekperov reassured that “today, it is not just a declaration but these are real projects: in the Republic of the Congo, in Ghana, we are now looking at a number of other countries, and Cameroon.”

Its media release shows that Lukoil’s portfolio is quite extensive. It works in 32 countries worldwide, conduct geological exploration both in the West and in Africa. For now in Africa, it has one success story. For the past ten years, Lukoil company’s operations in the Republic of Ghana where it focuses on upstream exploration. The reserves evaluated on the blocks proves to be sufficient for their industrial development.

On the opposite side, Russian news agencies reported that Lukoil exited projects in Cote d’Ivoire, where it had led exploration in the deep offshore. The company confirmed the information about leaving the projects to TASS News Agency.

In August 2015, Lukoil also pulled out of the oil and gas exploration and drilling project that it began in Sierra Leone. According to Interfax, a local Russian News Agency, the company did not currently have any projects and has backed away due to poor exploration results in Sierra Leone.

It reported that drilling in West Africa, including Côte d’Ivoire and Sierra Leone, did not bring Lukoil the expected results, as preliminary technical results did not demonstrated commercial hydrocarbon reserves. According to official reports, Lukoil has been active in a number of countries with a high level of political and economic risks that could significantly complicate the work of the company in a particular region, and even lead to its termination.

Russia’s Lukoil is one of the world’s biggest vertically integrated companies for production of crude oil and gas, and their refining into petroleum products and petrochemicals. The company is a leader on Russian and international markets in its core business and its key mission is to harness natural energy resources for human benefit and supports long-term economic growth, social stability, prosperity and progress in the regions where it operates.

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