Fidelity bank banner Bayelsa State banner
Elumelu broadens oil and gas focus, expands into West African offshore services

By News Express on 29/08/2013

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 6,439


LAGOS, Nigeria August 29, 2013/African Press Organization (APO)/ Tony O. Elumelu’s pan-African investment vehicle, Heirs Holdings, today announced a substantial investment in Seadrill Mobil Units (Nigeria) Limited, an affiliate of one of the world’s leading offshore deepwater drilling companies, Seadrill. Elumelu has been appointed as chairman of the Board of Seadrill Mobil Units.

The investment is further evidence of Elumelu’s strategy of increasing African businesses participate across the oil and gas value chain, and complement existing interests in oil and gas production and exploration. Seadrill, the world’s leading offshore driller, is listed on both the New York and Oslo stock exchanges, operating the second largest ultra-deepwater fleet and largest premium jackup fleet in the industry with 7,500 staff in 15 countries.

Commenting on the investment, Elumelu said: “Seadrill is a significant player in the oil and gas space, with a strong track record and one of the most respected names in the industry. The partnership makes strong commercial sense, bringing together a major global player and a leading African participant in the oil and gas industry. Successful development of Nigeria’s deep water oil and gas fields is of strategic importance for our country. This is an important part of our own approach of creating synergistic added value investment across the energy sector, from extraction to processing and perhaps most importantly for Nigeria, industrial production and power generation.”

Commenting further, Elumelu said: “This partnership sets the stage for greater development in our energy sector, driven by local talent and should serve as a model for further, genuine, indigenous participation, creating both economic and social impact.”

Seadrill Mobil Units (Nigeria) Limited, Director Svend Anton Maier added: “The partnership with Heirs Holdings creates the right mix of global technical expertise, backed by operational excellence and sound financial management to the Nigerian market. It positions the company as a local industry leader and a truly indigenous player.”

Heirs Holdings makes proprietary investments in strategic sectors throughout Africa. Through affiliates Tenoil Petroleum & Energy Services; and Transcorp Energy – established to lead Transcorp’s focus on the energy sector, Heirs Holdings has already made significant commitments to the oil exploration and production sector, through the acquisition of OPL 281, an onshore oil field with substantial gas reserves, by Transcorp and Tenoil’s development of OPL 2008, which is intended to enter production in 2014.

•Photo shows Tony Elumelu.

Source News Express

Posted 29/08/2013 6:09:12 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Foreign reserve may hit $50bn by year end...

FG grants amnesty to 7,000 repentant Niger Delta...

Physicians raise alarm over increasing disease rate in...

Digitalprwire named official news wire partner of the...

Rampaging Eagles held in final World Cup qualifier...

Drug courier nabbed while boarding flight in Kano...

Recession: Anambra suspends payment of some taxes with...

Wema Bank rebrands, changes logo

Pirates abduct Bayelsa monarchs

Nigeria’s Amina Mohammed sworn-in as UN Deputy Secretary-General...

Anambra PDP group vows to resist imposition of...

Army Chief visits wounded soldiers in hospital

 

Latest News Breaking: Buhari signs 2018 budget Boko Haram still runs camps around Maiduguri: Security Sources APC convention faces crisis over ‘Unity List’ FG to disburse $322m Abacha loot to Nigerians NDDC resumes foreign scholarship scheme N138bn NHIS funds trapped in 17 banks We will stop ISIS from using Nigeria as training ground- FG Bayelsa indigenes flee homes over fear of military invasion Anambra Special Anti-Cultism Squad nabs armed robbers FG okays 94 cattle ranches in 10 states Nigeria to host 28 African countries to tackle insecurity Generator fumes kill mother and 5 children; father in coma

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (352,106 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (351,389 views) Shameless Genevieve Nnaji exposes breasts in public (280,038 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (229,945 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (208,972 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (208,587 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (181,699 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (163,771 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (153,849 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (148,489 views) Lagos plane crash: Journalist releases victims’ names (143,753 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,601 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,256) Business Verdict (44) Columnists (868) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (505) Features (607) Global Business Monitor (283) International (2,040) Interview (154) Live Commentary (28) Love Matters (123) News (36,338) Opinion (1,003) Pidgin (10) Politics (5,284) Religion (770) Sports (1,551) Stock Watch (30) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Portugal v Spain 2018

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement