Saturday, February 14, 2026
31.4 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

Nigeria Secures Permanent Seat on the Board of African Central Bank

During the just-concluded 39th Session of the Executive Council...

Tinubu Hails BOI on N636bn Loan Disbursement to Businesses in 2025

President Bola Ahmed Tinubu has commended the Bank of...

Index-Based Livestock Insurance Consortium Disburses ₦181.9m in Claims Payouts to Livestock Herders

A consortium of insurance companies led by Leadway Assurance...

SanlamAllianz General Insurance Appoints Jacqueline Agweh as MD/CEO

 SanlamAllianz General Insurance has announced the appointment of Mrs....

BudgIT Claims 92 Fraudulent Projects Out of 2,760 in 2024/2025 Tracka Report

Tracka, BudgIT’s service delivery promotion platform, which allows citizens...

Topics

Red Star Express Plc Partners DealDey to Enhance eCommerce Industry

In a strategic bid to constantly exceed customers’ expectations and enhance the eCommerce industry in Nigeria, Red Star Express Pl, has partnered with DealDey to take the online shopping business to greater height. Online shopping is fast gaining ground in Nigeria, taking up most conventional shopping as people, especially the elite, working class and the youth, who run tight/ busy schedules, place their orders from the online stores at the comfort of their homes and offices, and their purchases are delivered to them.

NCC Fine Impacts MTN Result Ending June 2016

MTN, a leading emerging markets mobile operator, connecting 233...

Industry Leaders Reflect on Strategies for Longevity, Succession at Family Business Summit 2024

L-R: Convener, My Family, My Business, Oghenevwoke Ighure; Executive Director,...

Stanbic IBTC PMI: Private Sector Continues to Expand, Intense Cost Pressure Weighs on Growth

Nigeria's private sector concluded the third quarter of 2021...

Consolidated Hallmark Insurance Unveils IfYouLoveItInsureIt Media Campaign

  Mr. Eddie Efekoha Group Managing Director/CEO CHI Plc Consolidated Hallmark Insurance (CHI)...

AfDB, African Union Launch Initiative to Eradicate Malnutrition Across Africa

  The African Union Commission (AUC) and the African Development...

Nigeria Imports N1bn of Rice Daily

N1billion. That is, according to the Arewa Consultative Forum’s...

NLNG Clarifies Media Reports on NASS Meeting on Train 7 Project

Nigeria LNG Limited (NLNG) has noted recent media reports...
spot_img

Related Articles

Popular Categories

spot_imgspot_img