In transition to conclude acquisition of assets in Nigeria by mid 2019.
We have been present in Nigeria for a decade through different ventures for oil and gas projects and sustainability and environmental activities.
Our model was founded on the idea of creating local growth, transfer of competence and technology, all combined with sound return on investment. We have been engaged with the Ogoni people in Nigeria for the clean-up of the Ogoni land impacted by several oil spills. United Nations made an assessment in 2011 for the work required. Similarly, we have been engaged with the communities that were affected by the Bonga oil spill and are engaged as peace ambassador for the Foundation for Partnership Initiatives in the Niger Delta (PIND).
We are now targeting to conclude the acquisition of one or more assets in Nigeria during 2019. The target assets are proven and producing licenses with development and IOR potential. We are also looking at incorporating gas projects, particularly flared gas projects to LNG or power.
Nigeria is placed in the top most petroleum-rich nations in the world and by far the most affluent in Africa. Nearly all of the country’s primary reserves are concentrated in and around the Niger Delta. Nigeria is one of the few major oil-producing nations still capable of increasing its oil output.