Monday, April 13, 2026
30.9 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

Mutual Benefits Highlights Power of Structured Financial Planning as Nigerians Struggle to Save

A growing number of Nigerians are struggling to build...

APC Chairman: Party is Nigeria’s Only Tested Vehicle for Stability, Progress, National Renewal

The National Chairman of the All Progressives Congress (APC),...

RHUCE Taps into Africa’s $3b Creator Economy with New Monetisation Platform 

RHUCE, a new social platform designed for African creatives,...

FG Tasks PenCom on N28tn Pension Assets at Board Inauguration

The Federal Government has inaugurated the Governing Board of...

Inspenonline Retirement Summit 2026: Experts to Brainstorm on Turning Dreams into Reality for Workers

How to turn dreams into reality through insurance; pension...

Topics

Verve Rewards Cardholders with Brand New Car, Prizes Worth N50m

L-R - Chuma Ezirim, FirstBank’s Group Executive, E-Business and...

Stanbic IBTC Capital: Best Investment Bank in Nigeria-EMEA Awards 2022

Stanbic IBTC Capital, the investment banking subsidiary of Stanbic...

NSE Reveals Results of Biannual Review of Market Indices

The Nigerian Stock Exchange (NSE) has announced the results...

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

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

Dangote Launches Graduate Rice Farming Project

A multi-million Naira Youth Farming Initiative that will engage...

Kaspersky: The Dark Side of Apps

Mobile device security threats are on the rise and...

The Global Airlines Financial Monitor: May 2017

Global airline share prices performed strongly in May,...

Insurance Sector: N533bn Premium Income, N243bn Claims in Q3, 2022

Mr. O.S. Thomas Commissioner for Insurance/CEO National Insurance Commission (NAICOM) The Nigerian...
spot_img

Related Articles

Popular Categories

spot_imgspot_img