Thursday, March 12, 2026
32.4 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, IFC, CSCS, WIMBIZ Convene Leaders to Advance Gender Equality at 2026 Ring the Bell Ceremony

Nigerian Exchange Group Plc (NGX Group), in collaboration with...

Union Bank of Nigeria Marks Int Women’s Month 2026 with Inclusion-First “Give to Gain” Campaign

L-R: Chief Talent Officer, Union Bank of Nigeria, Omayuli...

NAICOM: 20 Insurance Firms Seek Capital Verification Ahead July 31 Recapitalisation Deadline

The National Insurance Commission (NAICOM) says 20 operators in...

FG Inaugurates Committee on Grid Asset Management Company to Boost Power Sector

President Bola Tinubu has constituted an 11-member committee to...

Tinubu Approves Posting of 31 Career, 34 Non-Career Ambassadors

President Bola Ahmed Tinubu has approved the postings of...

Topics

WorldRemit Seeks Urgent Restoration of Money Transfers to Nigeria

WorldRemit, a leading online remittance provider, is calling for...

Veritas Kapital Employee Volunteer Program Impacts on Karamajiji Community

Veritas Kapital Assurance (VKA) Plc - one of the...

AfCFTA, UNDP Task Africa on Regulation to Drive MSMEs

African governments can turn trade barriers into accelerators that...

Wema Bank Celebrates 78th Anniversary, ALAT at 6!

Wema Bank Plc, a leading Nigerian financial institution renowned...

AIICO Deepens Bond with Retirees, Holds Annuity Forum in Lagos, PH

Mr. Gbenga Ilori, Head, Retail Business at AIICO, in...

Total Reiterates Commitment to HIV/AIDS Awareness Campaign in Schools

Total Upstream Nigeria Limited has reiterated its total commitment...

NCC Enjoins Telecom Consumers to Protect Infrastructure

The Nigerian Communications Commission (NCC) has again enjoined telecoms...
spot_img

Related Articles

Popular Categories

spot_imgspot_img