RUSSIAN BUSINESS PRESENCE IN AFRICA (C-CI9-01825)

UNCLAS ABIDJAN 000571 E.O. 12958: N/A TAGS: PINR BBSR ECON EINV CV SUBJECT: RUSSIAN BUSINESS PRESENCE IN AFRICA (C-CI9-01825) REF: STATE 88241 The following are responses to the questions posed in reftel: (A) To our knowledge, there is no official Russian trade representation in Cote d'Ivoire. The Russian Embassy has refused our requests to meet with them directly. (B) Lukoil Overseas is the major Russian company operating in Cote d'Ivoire. Lukoil and Houston-based Vanco International Ltd. are partners on two offshore Ivoirian blocks: CI-101 and CI-401. Vanco originally held 90 percent ownership of these two blocks, with Cote d'Ivoire's national petroleum company, Petroci, holding the remaining 10 percent. However, Lukoil purchased two-thirds of Vanco's 90 percent, leaving Vanco with a 30-percent interest in each block. Vanco is the operator on both blocks and intends to drill on CI-401 in December 2009 and on CI-101 in 2010. Lukoil holds another offshore block, CI-205, on which it is the operator. (C) Post has no figures on revenue earned by Russian companies in Cote d'Ivoire. (D) Lukoil's investment in the oil sector is around $250 million. According to the Ivoirian investment authority, Centre de Promotion des Investissements en Cote d,Ivoire (CEPICI),there are currently no Russian investments in other sectors. CEPICI told us that they had received inquiries from potential Russian investors in the cocoa, coffee and energy sectors, but no firm agreements had been reached. In 2008, local press reported the visit of a Russian delegation seeking business opportunities for infrastructure projects in Yamoussoukro, the political capital in the center of the country. No further developments were reported. E) We do not believe that Cote d'Ivoire is actively seeking Russian tourism or investment. F) Roughly 20 Russians work at their Embassy in Abidjan (diplomats and staff). We met with two Russians employed by Lukoil earlier in the year. STANLEY