North American Kariya Energy to acquire oil assets in Africa

Kariya Energy announced today that it would enter into various agreements to acquire upstream and midstream oil and gas assets in African countries.

According to a statement, Kariya Energy’s technical and financial strength puts it in a position to bring Canadian and American ingenuity into the growing oil and natural gas market in Africa.

Kariya Energy and its management team’s engagements and experience with various deep and shallow water projects in Mozambique, Nigeria, Senegal, Congo DRC, Congo Republic and Gabon “make the countries great investment possibilities.”

After spending 16 months reviewing data from various international oil companies, Kariya Energy said it would continue with its current and ongoing support by providing technical, financial, and operational support for oil and gas companies currently operating in Nigeria, Congo and Gabon.

The company’s focus is on innovation and evaluation of new opportunities for resource extraction with great technology that has produced results as it noted that it would pursue profitable small-scale liquefied natural gas projects across Africa, a niche that its leadership has been skilful in building and making it profitable and scalable, boasting significant potential across the African market.

With its technology, Kariya said it could turn around African small-scale LNG and work with partners in addressing off-grid power generation for industrial and residential needs in remote locations and deal with issues around energy poverty.

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