Ghana is considering acquiring Russian oil giant Lukoil’s stake in a major offshore oil block as the West African nation seeks greater control over its future energy production and revenues, according to reports citing officials familiar with the matter.

The proposed move concerns Lukoil’s 38% interest in the Deepwater Tano Cape Three Points block, which includes the Pecan oil project one of Ghana’s most significant undeveloped offshore discoveries.

According to reports from Bloomberg, Ghanaian authorities are exploring the possibility of exercising pre-emption rights that would allow the state to purchase the Russian company’s stake amid ongoing restructuring and pressure on Russian-linked assets following Western sanctions.

The development reflects a broader trend among African resource-producing nations seeking stronger national participation in strategic energy assets as governments attempt to maximize long-term revenues and strengthen energy sovereignty.

The Pecan field, operated by Aker Energy, is viewed as a key component of Ghana’s future offshore production capacity. Industry analysts say increased state participation could give Ghana more leverage over investment decisions, local content policies and future export revenues.

While Ghana has not officially confirmed a final agreement, sources cited by international media say discussions are underway regarding financing structures and the possible role of state institutions in any acquisition process.

The potential transaction also comes at a time when several international energy companies are reassessing African portfolios amid shifting geopolitical risks, energy transition pressures and financing challenges.

Neither the Ghanaian government nor Lukoil has publicly announced a completed deal.

If finalized, the acquisition would mark one of the most significant efforts by Ghana in recent years to expand direct influence over its offshore petroleum sector, which remains a major pillar of the country’s economy and export earnings.