Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Koral Energy invests in Nigeria’s Ebok field

    Koral Energy invests in Nigeria’s Ebok field

    April 19, 2017
    Share
    Facebook Twitter LinkedIn WhatsApp
    Ebok platform workers.

    Kunle Kalejaye 19 April 2017, Sweetcrude, Lagos – Koral Energy International Limited has announced the acquisition of a Floating Production Unit, FPU, and the associated O&M contract that would enhance service delivery to the Ebok field offshore Nigeria’s Niger Delta.

    The acquisition from Singapore-based Mercator will also further increase production operations at the field.

    The company made the acquisition known April 12, 2017, marking its first strategic investment in Africa’s energy sector.

    Commenting on the development, Koral Energy’s Managing Director Patrick Vallette D’Osia said: “This was a complex transaction, that required the alignment of multiple parties, across many jurisdictions, but plays to Koral’s strength in financial engineering and we are very happy to have delivered a sustainable and strong solution for the benefit of all.

    “We believe there is a significant opportunity in Nigeria’s energy sector, with a range of assets potentially available to companies like Koral, who can bring innovative financial skills combined with an understanding of African markets.”

    Late in 2016, Koral entered into discussions with Mercator, who were seeking to re-structure operations globally, and were able to design a financial solution that delivers on-going cash flows for Koral while delivering value to Mercator for their asset.

    Koral successfully managed negotiations with Mercator, its client, Oriental Energy Resources and financial partners across multiple jurisdictions to design and implement a creative and sustainable financial solution for the benefit of all involved.

    Koral maintains an on-going interest in deepening its investment portfolio in the African energy industry and supporting other asset owners in need of innovative

    Koral was established in Mauritius to leverage emerging opportunities in Africa’s energy industry, with an initial focus on Nigeria. The company recognised that in a low oil price environment, and with a broad need for industry and financial re-structuring, its ability to bring financial expertise to support the industry would be attractive to a range of existing asset owners.

    With both asset owners and service providers under pricing pressure, and disruption to production following a period of instability in the region, demand for investors willing to provide both equity and innovative financing structures is high.

    Related News

    Crude oil exposed to geopolitical changes and demand risks

    17 injured in Chevron oil platform fire in Angola

    Inaugural Champions of Nigerian Content Awards holds today in Yenagoa

    E-book
    Resilience Exhibition

    Latest News

    South Africa inflation rises slightly in April on food costs

    May 21, 2025

    Crude oil exposed to geopolitical changes and demand risks

    May 21, 2025

    Gold above $3,300: Stability or a passing phase amid dollar weakness & rising risks?

    May 21, 2025

    17 injured in Chevron oil platform fire in Angola

    May 21, 2025

    Inaugural Champions of Nigerian Content Awards holds today in Yenagoa

    May 21, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.