CNOOC Plan $200m Investment in Nigeria

CNOOC Plan $200m Investment in Nigeria

The China National Offshore Oil Corporation Energy Group (CNOOC) and Gas Group plans to invest over $200 million in the Nigerian oil and gas industry.
Already, the firms had invested $50million in the development of oil field-related tools and plan to inject additional $150 million in downhole tools, logistics trucks, machine shop and rig assembly plant to be located at Kidney Island, Port Harcourt, Rivers State.
The Group Chief Executive Officer, Gas Group, Mr. Gliffeth Wonuigwe, disclosed that the venture was being executed through First Atlantics Drilling Services Limited, a subsidiary of the Gas Group in collaboration with CNOOC Energy Group, a Chinese group with over $30 billion revenue in exploration and production and associated integrated services.
More: thisdaylive

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