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
spot_img
spot_img

Hot this week

Emmanuel Okpanachi: Building the Technology Behind Africa’s Next Generation of Events

Africa’s events industry is growing rapidly, but the technology...

SEC, Meristem Collaborate to Curb Unclaimed Funds, Strengthen Investor Protection

Head, Monitoring & Enforcement Department Securities and Exchange Commission,...

President Tinubu, NGX Group Advance Capital Market Agenda to Accelerate Nigeria’s Trillion-Dollar Economy

President Bola Ahmed Tinubu has reaffirmed the Federal Government’s...

AIICO Retains Composite Licence Without Capital Raise, Posts Solid Q2 Performance

Mr. Olusegun Omosehin, Commission for Insurance/CEO of the National...

CIIN Unveils 2nd Edition of Courts’ Judgments on Insurance, Related Cases in Nigerian Courts

Chartered Insurance Institute of Nigeria (CIIN) announces the release...

Topics

NCC Restores Regulatory Services to Globacom

The Nigerian Communication Commission (NCC) has restored regulatory services...

Wecass Braun Unveils Integrated Energy Solutions for Nigeria

Mr. André Braun, Co-CEO of Wecass-Braun Integrated Energy Limited...

ITU Telecom World 2018 Spotlights Innovation for Smarter Digital Dev

The  ITU Telecom World 2018 concluded recently in Durban, South...

UNDP Report 2015: Highlights of Development Support to Nigeria

The challenges that Nigeria faced throughout 2015, and indeed...

Why Investors Should Not Ignore Opportunities in Fragile States

Africa is experiencing fewer wars than it did two decades ago but conflict, insecurity and the fragility of states is still a major concern for business. Politically motivated instability can be seen in countries like Burundi, South Sudan, Mali, eastern DRC, Libya and Somalia, while Nigeria and Kenya are dealing with terrorist activities. But American entrepreneur Jake Cusack believes there are “genuine economic opportunities” in these fragile markets. He says companies need to be strategic about what parts of a country they invest in, and whom to partner with, as opposed to writing off an entire country.

Red Star Express Restates Education Strategy, Awards Scholarships

Red Star Express Plc has restated the strategic importance of primary and grassroots education as a catalyst for overall economic growth and long term improvement of life. The Managing Director of Red Star Express, Mr. Sule Bichi made the comment at the scholarship Awards presentation ceremony at Unity Grammar School and Mafoluku Grammar School, as part of its Corporate Social Responsibility (CSR) in Lagos.
spot_img

Related Articles

Popular Categories

spot_imgspot_img