Nigerian oil and gas company, Oceangate Oil and Gas Engineering, just secured a major multi-billion dollar deal with Global Petroleum Group to develop Grenada’s hydrocarbon reserves. This venture is set to transform Grenada into a leading energy hub in the Caribbean.
Oceangate’s Group CEO, Dr. Aisha Achimugu, described the deal as a “transformative partnership” that aims to unlock Grenada’s energy potential. Achimugu added, “We are thrilled to enter this partnership with Global Petroleum Group, which will bring substantial economic benefits and energy resources to Grenada.”
The project is expected to bring unprecedented benefits across various sectors in Grenada, strengthening its position as a key energy supplier in the region. “With a vision to fuel long-term economic growth and sustainable development, this ambitious project promises not only to elevate Grenada’s energy production capabilities but also to foster job creation, infrastructure development, and technology transfer within the local economy,” Achimugu said.
This venture aligns with Oceangate’s commitment to sustainable energy solutions, focusing on economic growth while respecting environmental standards. Achimugu pointed out that the partnership reflects Oceangate’s dedication to fostering “future economic collaborations between Africa and the Caribbean.”
As the Caribbean’s energy landscape continues to evolve, this major oil and gas development positions Grenada as a potential powerhouse. This sets the stage for future economic growth and strengthened regional ties.
