By Dulue Mbachu
Oct. 19 (Bloomberg) -- Nigerian energy company Oando Plc said it signed an agreement with Russia’s OAO Gazprom to collaborate in oil and gas projects in the West African country.
The two companies have agreed “to jointly develop projects in multiple sectors of Nigeria’s oil and gas industry,” the Lagos-based company said in an e-mailed statement. They will also work together on hydrocarbons assets and infrastructure in the Gulf of Guinea and the entire West Africa, it said.
Vladimir Ilyanin, managing director of Gazprom’s Nigeria unit, declined to comment when contacted by phone.
Nigeria has Africa’s biggest hydrocarbon reserves of about 36 billion barrels of crude oil and 187 trillion cubic feet of gas, according to the Petroleum Ministry. The country plans to spend $30 billion to build a gas pipeline network and processing facilities to supply domestic users and a pipeline across the Sahara Desert to Europe.
Oando and Gazprom were among 15 energy companies selected by the Nigerian government in March as potential investors to help develop gas projects. Gazprom and Nigeria agreed in June to develop jointly natural gas infrastructure with a combined investment of at least $2.5 billion, including production and transportation facilities.
To contact the reporter on this story: Dulue Mbachu in Lagos at dmbachu@bloomberg.net.
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