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Westbridge Establishes Strategic Alliance in Nigeria

Source: 5/9/2013, Location: Africa

Westbridge Energy Corporation announced it has entered into a strategic alliance agreement (the "Agreement") with United Oil and Gas Nigeria Limited ("UOG") to jointly acquire and develop near term production and exploration assets (the "Assets") in Nigeria.

UOG is active in the Nigerian upstream oil and gas sector and its management team has over 300 years of combined experience with an established track record of production and development of oil and gas assets in Nigeria. The company was founded by Dr. Ebi Omatsola who has been active in the international oil and gas sector for over 40 years. He has extensive experience in Nigeria, Oman, Ghana, Gabon, Namibia and Kenya with numerous roles including Chief Geologist for Shell Nigeria and New Ventures & Area Geologist for Sub-Saharan Africa for Shell International. Dr. Omatsola currently serves as a Distinguished Advisor to Westbridge and Vice-Chairman of the Conoil Group of Companies based in Nigeria with its production subsidiary - Conoil Producing Ltd. being one of the largest indigenous net oil producers in the country.

"Westbridge is delighted to be working alongside United Oil and Gas Nigeria Ltd.," commented Mark Frewin, Westbridge's Chairman. "Our strategic alliance with UOG will provide Westbridge with world class opportunities and access to outstanding technical, governmental and business experience in Nigeria's oil and gas sector. By developing additional assets alongside UOG, Westbridge will have the potential to create significant value on an accelerated basis for our stakeholders."

Westbridge and UOG will work together to develop assets in Nigeria with UOG providing local technical support, access to financing, development opportunities and infrastructure.

For more information about related Opportunities and Key Players visit West Africa Projects

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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