Lekoil 310 Limited, a wholly owned subsidiary of LEKOIL, has entered into a binding loan agreement with the Qatar Investment Authority, the sovereign wealth fund of Qatar, in the amount of US$184.0 million.
With the successful Serenity discovery and remaining potential at Liberator, the company has begun planning a mid-2020, multi-well appraisal programme and is simultaneously conducting a farm-down process of its licences to potentially fund the 2020 drilling campaign.
As part of the initial closing, WIS acquired businesses and assets in 16 countries. Another 9 jurisdictions are expected to close in the coming months pursuant to the terms of the purchase agreement.