Russia LUKOIL sees commercial dev of Ghana offshore

MOSCOW, Oct 7 (Reuters) - Russia's No. 2 oil producer, LUKOIL LKOH.MM said its offshore oil exploration project in Ghana will almost certainly lead to commercial exploitation, the vice president of the firm's offshore subsidiary said Thursday.

“We are almost certain that this will lead to commercial development,” Dmitry Timoshenko said at a press conference in Moscow with Ghana’s Energy Minister Joe Oteng-Adjei.

A joint venture between LUKOIL, Vanco and Ghana’s National Petroleum Corporation is in the process of drilling exploratory wells and analyzing seismic data at the Cape Three Points Deep Water block off the coast of the West African country.

“We will continue to look into practically any opportunity to participate in new projects in Ghana,” Timoshenko added.

Reporting by Ekaterina Golubkova; writing by Jessica Bachman; editing by Alfred Kueppers