Wednesday, June 10, 2026
31.7 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
spot_img

Hot this week

Heirs Insurance: 3m Policyholders in 5 Years of Industry Transformation

Heirs Insurance Group says it has recorded over three...

Universal Insurance CEO, Jeff Duru, Chairs SUPERNEWS Confab 2026, as Idu Okeahialam Delivers Keynote Paper

SUPERNEWS Nigeria has announced the Managing Director/Chief Executive Officer of...

REA CEO, Stakeholders to Brainstorm on Nigeria’s Energy Transition Pathway at 2026 Oriental News Conference 

The Rural Electrification Agency (REA), would be leading conversations...

Mutual Benefits Unveils New Website, Expanding Digital Access to Insurance Solutions

  New Platform Enhances Customer Experience, Enables Online Purchase...

Topics

NAICOM Champions Engagement between Nigeria, Ghana Insurance Operators

The Commissioner for Insurance/CEO of NAICOM, Mr. Olusegun Omosehin...

NEM Insurance 2020: N22bn Premium, N8.4bn Claims, N5bn Profit

Dr. Fidelis Ayebae, Chairman, NEM Insurance Plc said the...

Emirates Opens New Lounge for Children

Young travellers flying Emirates as unaccompanied minors can now...

FinTech in Africa Targets $3bn by 2020

Millions more people in Africa now have access to...

Reaching the Most Vulnerable in Nigeria: Our Humanitarian Roadmap 2025

By Mohamed Malick Fall On 23 January 2025, we will...

ADB: Strategies for Africa’s Transformation at 2016 Annual Meetings

The African Development Bank Group will unveil its new...

‘Global Cancer Deaths Top 10m in 2018, 18m New Cases’

The Mass Medical Mission is set to launch its...

Stanbic IBTC Partners FATE Foundation on COVID-19 Treatment

  Stanbic IBTC Holdings PLC, a member of Standard Bank...
spot_img

Related Articles

Popular Categories

spot_imgspot_img