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Wednesday, September 26, 2018
Nigerian firm Oilserv Limited entered into a JV agreement with Equatorial Guinea’s state-run oil and gas firm GEPetrol. The agreement with GEPetrol will aid Oilserv in expanding its footprint in the industry.
The joint venture agreement resulted in the formation of Oilserv Equatorial Guinea.
Chairman /Group CEO of Oilserv Group, Engr. Emeka Okwuosa said, “As the clear leader in the industry today in Nigeria, we are always looking at innovative approaches to expand our business. This JV offers Oilserv Limited a strategic foothold in one of the world’s fastest-growing economy and the third largest oil producing country in sub-Saharan Africa.”
“The joint venture partnership will benefit immensely from our experience and capabilities in navigating local terrains, customs, others and would create more value for the government and people of Equatorial Guinea,” Director-General/CEO of GEPetrol, Antonio Oburu Ondo said at the signing of the agreement.
“I am delighted to welcome yet another global brand to GEPetrol, especially a respected and recognized name in the Nigerian Oil and Gas industry. This new partnership is a testament of the government continuous efforts in encouraging private sector participation with greater economic liberalization policies and the creation of favorable investment climate and enabling framework,” Ondo added.
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