Future collaboration on upstream oil and gas projects in Africa is on the cards with the signing of a memorandum of understanding between South Africa-based commodities trading and advisory company DMWA Resources and oilfield services company Schlumberger, DMWA Resources announced on Tuesday.
The three-year long agreement, signed on Dec. 20, aims for both companies to work together on energy projects in Central and West Africa and the emerging East Africa region.
DMWA Resources will use its agreement with Schlumberger to consolidate and grow its upstream oil and gas position across Africa, DMWA said.
'DMWA is currently looking at assets across Africa. We are successfully leveraging our team's marketing and trading knowledge with the support of first class upstream firms like Schlumberger,' Executive Director of DMWA Resources Sebastian Wagner, was quoted as saying.
'We see enormous value-added in offshore and onshore Africa, where huge opportunities have been overlooked by larger operators in the past. We and our partners have a different vision on Africa and are delighted with its geological prospectivity,' Wagner added.
DMWA Resources is an emerging African commodities trading and advisory company with an interest in oil and gas assets across the continent, according to the company.
By Huseyin Erdogan
Anadolu Agency
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