A multi-billion dollar deal was concluded between Nigerian oil and gas company Oceangate Oil and Gas Engineering and Global Petroleum Group, according to Nigerian media.
This partnership will see the development of Grenada's hydrocarbon reserves, positioning the island nation as a key energy player, according to Global Petroleum Group CEO Aisha Achimugu, cited by the newspaper.
“This venture underscores Oceangate’s commitment to investing in sustainable energy solutions that drive economic prosperity while respecting environmental standards. We believe this project will lay the foundation for future economic collaborations between Africa and the Caribbean,” Achimugu said.
She explained that this project aims to fuel long-term economic growth and sustainable development in Grenada, promising to boost the country's energy production, create jobs, improve infrastructure, and transfer technology to the local economy.
Aisha Achimugu concluded by saying that, given the changing energy landscape in the Caribbean, the venture is expected to create unprecedented economic opportunities, benefiting various sectors and establishing Grenada as a crucial energy supplier in the region.