The firm said in a statement on Monday, which was made available to the Nigerian Stock Exchange, that the acquisition was in line with its strategic partnership and joint investment agreement with Petralon Energy for the acquisition and development of oil fields in Nigeria.
It added that the subscription was subject to engagement and the receipt of all, consents, and approvals. “The Investment has received ministerial consent but necessary engagements with key stakeholders regarding the Investment, continues.”Julius Berger said the share capital of JBIL was sufficient to fund the investment.
They now have excessive oil wells
They have been into oil and gas for years ... so it’s no news. They have been taking crude oil in exchange for constructions for years now.
Why not...they've been taking it for years as payment so might as well dive into the pool.....SMH
😨😨😨😨
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Our oil industry stagnant, crude reserves stunted for decades — FG – Daily TrustThe Nigerian oil Industry has remained stagnant, failing to compete with other oil producing nations due to the unending challenges bevelling the sector. The Minister of Petroleum Resources (State) and the Group Managing Director of the NNPC, Timipre Sylva and Male Kyari respectively said this yesterday at a public hearing of joint Senate Committee on …
Source: Daily Trust - 🏆 13. / 51 Read more »