Multi-billion dollar MoAs signed to develop Nigeria's oil, gas infrastructure

Multi-billion dollar memorandum of agreements signed by Oilserv, Tianjin Energy, and Alpha Group to develop Nigeria’s oil and gas infrastructure. (Source: Alpha Capital International)

Chongqing Construction Engineering Group Co (CCEGC) chairman/party secretary general Yang Jingpu, Tianjin Energy Resources (Tianjin) MD Peter Lin, Oilserv, chairman Emeka Okwuosa, and Alpha Group of Companies’ (Alpha) chairman Sheikh Mohamed Bayorh signed the agreements. This was carried out in the presence and supported by senior representatives from the Industrial and Commercial Bank of China (ICBC), and Standard Bank of South Africa, which are the projects financiers.

Alpha and several other companies are already developing the Gas Revolution Industrial Park (GRIP) in Ogidigben, Delta State and Oilserv has partially completed the biggest pipeline project in Nigeria (East-West Gas Pipeline OB3) which is a 48-inch pipeline project that is expected to carry gas to various power plants in the country. The consortium also held a meeting with the Nigerian National Petroleum Corporations’ senior management including group executive directors/chief operations officers Saidu Mohammed (GED/COO Gas and Power) and Bello Rabiu (GED/COO Upstream).

Strengthen cooperation

CCEGC, Tianjin, Oilserv and Alpha agreed to strengthen cooperation including co-financing at strategic and technical levels on the basis of complementary value added, corporate strengths and comparative advantages, and mutual benefits, according to the MOAs.

The four companies will prepare formal proposals to the relevant authorities as well as undertake joint feasibility studies and participate in joint steering committees with key stakeholders from federal and state institutions as well as Nigerian government institutions including Nigerian National Petroleum Corporation, Nigerian Port Authority, Nigeria Export Processing Zones Authority, and Federal Ministry of Transportation.