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

LCCI: Nigeria Must Adopt Reforms to Unlock Fintech Potential, Lead Digital Financial Hub in Africa

L-R: Prince Cookey, Publisher/Editor-in-Chief, Business Journal Media Group; Mr....

SEC DG: Capital Market Has Capacity to Fund Abuja Infrastructure Projects

Dr. Emomotimi Agama Director-General Securities and Exchange Commission (SEC) The Director-General of...

Mutual Benefits: Shareholders Back Strategic Growth Direction at 30th AGM

Historic 30th AGM: L-R: Managing Director/CEO, Mutual Benefits Life...

NGX, Brazilian Business Delegation Explore Areas of Collaboration, Partnership

WELCOME REMARKS BY ALHAJI (DR.) UMARU KWAIRANGA GROUP CHAIRMAN,...

Leadway’s Post-Recapitalisation Signals Era of Digital-First Insurance for Critical Sectors and Nigeria’s Next Generation

Leadway Assurance, Nigeria’s foremost insurance services provider and a...

Topics

Guinea Insurance Holds 66th AGM, Pledges a Future of Sustained Profitability

L-R: Ademola Abidogun, Managing Director, Samuel Onukwue, Non-Executive Director,...

Disruptive Innovations: Implications for the Future of Work

  By Tony Ojobo "Your job won't be taken by AI, but...

Heritage Bank Reports N1.5bn Profit for 2015

Heritage Bank Plc has announced a profit before tax...

Broadband-N400bn GDP Growth Dividend for Nigeria

Nigeria is set to reap Gross Domestic Product (GDP) growth dividend of over N400 billion via Broadband by 2018 if the various stakeholders in the ICT industry get their acts together. Mr. Mathew Willsher, Chief Executive Officer, Etisalat Nigeria, painted the rosy picture at the Commonwealth Broadband Forum 2015 hosted by the Nigerian Communications Commission (NCC) in Abuja. “Broadband is clearly no longer just a service but a critical economic enabler. It is therefore important that all stakeholders take necessary action to ensure that Nigeria’s Broadband is developed to its full potential.

Tanzania International Forum July 12

The Tanzania International Forum For Investments is scheduled to...

Stanbic IBTC Bank Emerges Best Sub-Custodian Bank in Nigeria

Stanbic IBTC Bank Plc, a subsidiary of Stanbic IBTC...

NCC Commits to Bridging Digital Gender Divide, Danbatta Bags ‘Icon of Digital Revolution Award’

The Nigerian Communications Commission (NCC) has reiterated its unwavering...

Allianz Ranked 30 on List of World’s Most Valuable Brands

In this year’s Global 500 report issued by Brand...
spot_img

Related Articles

Popular Categories

spot_imgspot_img