NLNG Corporate Caring banner FirstGem 3rd anniversay lecture Fidelity bank card banner Emerald Energy Institute Camano banner

Elumelu broadens oil and gas focus, expands into West African offshore services

By News Express on 29/08/2013

Gmail icon

Views: 8,018


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

 

 

CLASSIFIED ADS

 

You may also like...
Senator Nwaoboshi loses bid to reclaim property, as...

Activists kick as Obiano appoints notorious SARS Commander...

Gov. Dickson tops list of eminent members of...

Pupil kills mate during cult war in Lagos...

As Western lenders retreat, African banks see an...

Daniel, Man of Courage, Resilience, says Mimiko

CAN warns FG against recruiting repentant Boko Haram...

You’re APC’s agent, impostor, PDP tells Kashamu

BREAKING: Dozens dazed as deadly explosions rock airport...

Osinbajo behind my travails because I refused to...

Zamfara mulls empowerment for repented bandits

Five steps to evaluating a DDoS managed service...

 

Latest News Kidnappers abduct Police DPO, demand N50m ransom Varsity student in viral sex video expelled Kogi West: Melaye storms INEC office with 21 video clips; demands cancellation Teenager in court for allegedly kidnapping minor Sex position, duration don’t determine child’s gender - Expert Controversial oil deal: Adoke's lawyer confirms arrest in Dubai Police recruitment: Court fixes date to give verdict on PSC suit Illegal refineries discovered in Kano Many injured as NURTW, RTEAN clash in Lagos Suspected Boko Haram fighters burn down health centre in Yobe Five policemen collected N700,000 from me via POS - Victim Seven men of Nigerian origin arrested for romance scam in US

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (564,123 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (452,918 views) Shameless Genevieve Nnaji exposes breasts in public (402,220 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (336,704 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (304,243 views) 10 cars more expensive than Jets (282,837 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (259,280 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (257,490 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (239,023 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (225,434 views) Lagos plane crash: Journalist releases victims’ names (201,835 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (198,490 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (110) Business & Economy (4,579) Business Verdict (87) Columnists (1,145) Complaints & Requests (97) Enterprise & Opportunities (219) Entertainment (706) Features (845) Global Business Monitor (493) ICT Monitor (68) International (4,224) Interview (211) Live Commentary (30) Love Matters (176) Maggie's Blog (490) News (54,190) Opinion (1,422) Pidgin (17) Politics (11,778) Religion (1,122) Sports (2,229) Stock Watch (40) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera