By Emmanuel Nduka
Indigenous Nigerian oil and gas company, Oceangate Oil and Gas Engineering, has secured a historic multi-billion dollar deal with Global Petroleum Group in Grenada.
Grenada is now set to become a major energy hub with the launch of one of the Caribbean’s largest oil and gas ventures.
Disclosing this in a statement on Saturday, Oceangate’s Group CEO, Dr Aisha Achimugu stated that this transformative partnership aims to develop Grenada’s significant hydrocarbon reserves, paving the way for the island nation to emerge as a major energy hub in the Caribbean and beyond.
“We are thrilled to enter this partnership with Global Petroleum Group, which will bring substantial economic benefits and energy resources to Grenada.
“This venture underscores Oceangate’s commitment to investing in sustainable energy solutions that drive economic prosperity while respecting environmental standards. We believe this project will lay the foundation for future economic collaborations between Africa and the Caribbean,” she said.
“With a vision to fuel long-term economic growth and sustainable development, this ambitious project promises not only to elevate Grenada’s energy production capabilities but also to foster job creation, infrastructure development, and technology transfer within the local economy.
“Set against the backdrop of the Caribbean’s evolving energy landscape, the venture is expected to provide unprecedented economic opportunities, delivering benefits across sectors and positioning Grenada as a key energy supplier in the region,” she added.
Heritage Times HT reports that the deal falls in line with the strategic framework for indigenous companies in Africa to participate at the global stage.
The number of African indigenous oil and gas engineering companies participating globally is growing. Many countries, particularly Nigeria, Angola, and South Africa, have developed indigenous firms that are increasingly involved in international projects. These companies focus on various services, including exploration, production, and engineering consultancy.
Oceangate joins the Seplat Petroleum (Nigeria) and Mediocre (South Africa), and many others in the growing list of African indigenous oil and gas firms playing globally.
