Slow pace of regulation rains on Lekoil’s $1bn investments plan for Ogo fields

…underscores need for deep reforms in Nigeria’s oil sector

Oil

Lekoil plc, an Africa-focused oil and gas exploration and production company with interests in Nigeria and Namibia, says navigating through the maze of regulatory approvals in Nigeria represents its biggest challenge in taking the Ogo fields, offshore Lagos, to production. Lekan Akinyemi, the company’s CEO, told BusinessDay that the slow pace of getting approvals due…

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