Oilserv Limited, an indigenous oil and gas company in Nigeria has entered into a joint venture with GEpetrol in a move aimed at expanding global footprint.
The joint venture agreement, which resulted in the formation of OILSERV EQUATORIAL GUINEA S.L, was signed between Oilserv Limited and GEpetrol at the GEpetrol Tower in Equatorial Guinea capital City, Malabo.
GEpetrol was established as the National Oil Company of the Republic of Equatorial Guinea by Presidential Decree on August 27, 2001 and became operational in January 2002. The company is the custodian of the State’s interest and remains at the forefront of innovation and strategic partnerships in the Equatorial Guinea oil and gas sector.
Chairman /Group CEO of Oilserv Group, Engr. Emeka Okwuosa said “As the clear leader in the industry today in Nigeria, we are always looking at innovative approaches to expand our business.
This Joint Venture offers Oilserv Limited a strategic foothold in one of the world’s fastest-growing economy and the third largest Oil producing country in sub-Saharan Africa.
“The joint venture partnership will benefit immensely from our experience and capabilities in navigating local terrains, customs, others and would create more value for the government and people of Equatorial Guinea’’.
Director-gGeneral/CEO of GEpetrol, Senōr Antonio Oburu Ondo during the signing of the agreement said “I am delighted to welcome yet another global brand to GEpetrol, especially a respected and recognized name in the Nigerian Oil and Gas industry. This new partnership is a testament of the government continuous efforts in encouraging private sector participation with greater economic liberalization policies and the creation of favourable investment climate and enabling framework.
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