Joint venture formed between Saipem and Dangote

Nigeria

LAGOS, April 2, 2015 – Italian oil services group Saipem said in a press release on Wednesday that it has formed a joint venture with the Nigerian conglomerate Dangote Group. The new venture is called Saipem Dangote E&C. West and Central Africa are the target markets for the new group.

“We are confident that our partnership with Saipem will position us as a major player in the oil and gas sector,” Dangote Group executive director Devakumar Edwin said in a company statement.

Saipem Contracting Nigeria has been active in Nigeria for over 50 years as an engineering, procurement and construction contractor for projects such as pipelines, offshore structure fabrication and maintenance services. Saipem is a subsidiary of Italian oil major Eni, which holds a 43-percent interest.

Privately held Dangote Group is a highly diversified business entity, with downstream, power generation, gas exploration and fertiliser-production projects. The company has investment plans for a major refinery and petrochemicals complex in Lekki.

Read our latest insights on:

• Nigeria

Previous

AWE drills at Irwin 1 well

Next

Pemex blast kills four and injures 45