Wednesday, February 11, 2026
25.6 C
Lagos

Africa Offshore Oil Development Attracts U.S. Grant

The United States and Nigeria are teaming up to develop the African country’s offshore oil and gas industry. The U.S. Trade and Development Agency announced December 31, 2012 that it would be providing a grant to Nigeria that will be used to develop an electronic management platform which provides 24-hour support to offshore operations such as loading and unloading ships, cargo and equipment.

“USTDA is proud to assist the base’s efforts to expand its operations in order to provide continued logistics support,” said the USTDA Director Leocadia Zak in a release. “The technical assistance grant could also generate significant opportunities for U.S. companies to export IT-related goods and services.”

Other offshore oil development is also being planned for the coast of South Africa. The Oil and Gas Journal reported that Exxon Mobil recently acquired technical cooperation permits with the country’s government to conduct a one-year study on the hydrocarbon potential of a deepwater basin off Durban.

After the study, the energy company may decide to explore the area for oil and gas.

spot_img
spot_img
spot_img

Hot this week

CBN Approves Weekly FX Sale of $150k to BDCs to Enhance Market Liquidity

The Central Bank of Nigeria (CBN) has approved the...

Cairo Ojougboh Foundation Back Govt’s Education Development Drive

L-R: Son of the late Dr. Cairo Ojougboh, Mr....

Standard Bank Hosts 2nd African Markets Confab: Mobilising Global Capital at Scale for Africa’s Growth and Dev

Standard Bank Corporate and Investment Banking, will host the...

Stanbic IBTC Insurance Triumphs at 2025 Risk Analyst Awards, Showcase Institutional Excellence

Stanbic IBTC Insurance, a subsidiary of Stanbic IBTC Holdings,...

Topics

IFC: 2.5bn Adults, 200m MSMEs Lack Access to Credit

The International Finance Corporation (IFC) says an estimated 2.5 billion adults and 200 million Micro, Small and Medium Enterprises (MSMEs) worldwide lack access to credit or savings. Click here to make lazy tweet.

Orange, Google Partner on Mobile Internet Services in Africa, Middle East

Orange announces a new partnership with Google™ to bring...

Jiji Launches “Deals Na Water” Black Friday with up to 85% Off for Shoppers

Maxim Makarchuk COO Jiji Africa Jiji, Nigeria’s leading online marketplace, has officially...

MTN, Orange Launch Mobile Money Services Across Africa

Two of Africa’s largest mobile operators and mobile money...

AMCON, EFCC Partner on Debt Recovery

DEBT RECOVERY: Managing Director/Chief Executive Officer, Asset Management Corporation of...

Adeosun, Kari for NIA Chairman’s Investiture on Aug 16

The Nigerian Insurers Association [NIA] will hold an investiture luncheon in honour of its 22nd Chairman, Mr. Eddie Efekoha, on Tuesday, August 16, 2016 at the Grand Ball Room, Eko Hotel & Suites, Victoria Island, Lagos at 11.30 am prompt.

IMF: Credit to Private Sector Slows in sub-Saharan Africa

In its global economy outlook published on May 3,...
spot_img

Related Articles

Popular Categories

spot_imgspot_img