Monday, May 4, 2026
32.1 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

Stanbic IBTC Bank PMI: Business Activity Continues to Rise, But Higher Fuel Costs Limit Growth

The Nigerian private sector remained in growth territory at...

Niger Delta Economic & Investment Summit 2026: Fubara, Stakeholders Discuss Strategies in PH

The Executive Governor of Rivers State, Sir Sim Fubara...

NGX Shareholders Commend Leadership at 65th AGM, Seeks Continued Growth

Shareholders of Nigerian Exchange Group Plc (NGX Group) have...

Sovereign Trust Insurance Set for Market Leadership via N5bn Rights Issue

Sovereign Trust Insurance Plc has completed the structuring phase...

All Set for Ecobank 2026 National Schools’ Team Chess Championship

L–R: Austen Osokpor, Head, Marketing and Corporate Communications, Ecobank...

Topics

Interswitch Partners American Express to Broaden Acceptance of Amex Cards in Nigeria

    (L-R) Akeem Lawal, DCEO, Payment Processing, Interswitch; Vivi Galani,...

FG Tackles New York Times over Report on Nigeria’s Economic Situation

 Ruth Maclean and Ismail Auwal's feature story with the...

Digital Encode Targets Unicorn Status, Showcases Cutting-edge Cybersecurity Solutions @ AfriTECH 4.0

Digital Encode Limited, a leading Cybersecurity and Governance, Risk...

Ecobank Nigeria @ 40: Group Unveils N60m in Cash Rewards Program for Customers

Ecobank Nigeria, a subsidiary of the leading pan-African banking...

Auditing Brand Media Performance PR Agency or Media Intelligence Specialist?

The repetition of the same act and expecting different...

World Telecom Labs Survey: USF Offers Huge Potential for Connectivity

World Telecom Labs (WTL) unveiled the findings of its...

Paga, Leadway Assurance Partner to Safeguard Doroki Merchants with Tailored Insurance Solutions

Paga, the fintech company behind the Doroki merchant platform,...

CBN Plans BVN Registration for MfB, PMI Customers

The Central Bank of Nigeria (CBN) has disclosed on-going...
spot_img

Related Articles

Popular Categories

spot_imgspot_img