Wednesday, January 28, 2026
33.7 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

Hot this week

ITU Sets Path to Drive Digital Benefits for Citizens Worldwide

Member States of the International Telecommunication Union (ITU) agreed...

IMPI: Nigeria’s Economic Model under Tinubu to Deliver 5.5% GDP in 2026

One of Nigeria’s notable policy groups, the Independent Media...

Standard Bank Closes $250m Strategic Financing for Aradel Energy

Stanbic IBTC Capital Limited, Stanbic IBTC Bank Limited and...

First Asset Management Receives Upgraded Ratings from Agusto & Co, DataPro

First Asset Management, a subsidiary of FirstHoldCo Plc has...

SERAP Sues Adelabu, NBET over ‘Failure to Account for Missing N128bn in Power Ministry’

Socio-Economic Rights and Accountability Project (SERAP) has filed a...

Topics

HRM Igwe Maduagwuna of Awba-Ofemili Commends The Village Priest Author, Remmy Nweke

His Royal Majesty, Igwe Ezekwesili Maduagwuna, Ofemili I of...

NCC Accelerates Broadband Penetration to Business Owners

  The Executive Vice Chairman and Chief Executive Officer (EVC/CEO)...

Heirs Insurance Group Reports N61bn GWP in 2024, an Increase of 70%

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Consolidated Hallmark Seeks N500m to Acquire Life Insurer

Consolidated Hallmark Insurance Plc (CHI) is seeking N500 million...

AIO Unveils Africa Insurance Pulse 2020 to Digitise Continent’s Insurance Industry

According to the Africa Insurance Pulse, on “The digitization...

Almond Insurance Consumers Forum, Nite Set for Nov 22

Almond Productions Limited, promoters of the annual Insurance Consumers'...

Global Semiconductor Market Slumps in 2015

Global semiconductor revenues fell by 2 percent in 2015....

148 Nigerians Win ₦23m in Stanbic IBTC’s Reward4Saving Season 4 Promo

Stanbic IBTC Bank has successfully enhanced the financial well-being...
spot_img

Related Articles

Popular Categories

spot_imgspot_img