Sunday, June 15, 2025
23.8 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

NGX Group Chaiman, Umaru Kwairanga, Extols China-Africa Trade Expo 2025

By Umaru Kwairanga It is an honour and a privilege...

Sterling Bank Floats N2bn Private University Scholarships for Young Nigerians

Nigeria’s most forward-looking financial institution, Sterling Bank, has announced...

Emirates SkyCargo Bolsters Connectivity between Europe, Global Network

Emirates SkyCargo, the cargo arm of the world’s largest...

NCC, Stakeholders Tackle Rural Connectivity Challenges

The Nigerian Communications Commission (NCC) has collaborated with the...

CBN Debunks Report on BDC Recapitalisation Deadline

The Central Bank of Nigeria (CBN) has debunked a...

Topics

AIICO Insurance Organises Children’s Day Celebration for the Less Privileged

From left: Stevens Olusola, Founder, Vine Heritage Home Foundation;...

$7m Prize to Fund African Renewable Energy Projects

Access Power, a developer, owner and operator of power...

MTN: ‘Claims of Reported Final Fine Settlement Premature’

The management of MTN Nigeria says it is premature...

IEI COO, Uyi Osagie, Lays Mother to Rest in Edo State

From 3rd Left: Chief Operating Officer, Uyi Osagie; Managing...

How Not to Mismanage the Reputation of a Good Brand

It is a lunch time menu for communications, PR,...

BPE to Privatise 5 Mining Firms at N108.05m

The National Council on Privatisation (NCP), at its 4th meeting...

Access Bank Reports N168bn Earnings in Half Year 2015

Access Bank Plc, a full-service commercial bank operating in Nigeria, Sub-Saharan Africa and the UK, has released its audited results for the first half ended 30 June 2015, showing positive growth in financial indices.The Group recorded a strong performance in the first six months of the year, re-asserting its capacity and resolve to deliver strong returns in spite of a tighter operating environment.

Guinea Insurance Reports ₦477.7m Profit in FY 2023

Guinea Insurance Plc has reported a significant 49.4% increase...
spot_img

Related Articles

Popular Categories

spot_imgspot_img