A memorandum of understanding with GE Oil & Gas could help lift more oil out of a Nigerian basin, regional exploration company Lekoil said. Lekoil, a company focused on West African oil and gas production, said it signed a memorandum of understanding with the GE subsidiary to develop a work project for the Ogo oil field in Nigeria. Lekoil CEO Lekan Akinyanmi said the Ogo field is a world-class discovery and the agreement with GE is just a first step toward development for the rest of the oil production license area.