North American energy giant Kariya Energy has announced it is set to sign a number of definitive agreements to take over some oil and gas assets in a number of African countries. The company in a statement seen by Business A.M. described the assets as midstream and upstream.
Kariya has had deep and shallow water projects experience in some African countries, including Nigeria, Mozambique, Congo DRC, Congo Republic, Gabon and Senegal, making the aforementioned countries great possibilities for investments.
The company’s financial and technical strengths places it in a good position to transfer North American ingenuity to the oil and natural gas market in Africa that is still growing.
The company says that it has spent 16 months studying data from several international oil companies (IOCs), and that it will pursue acquisitions of development and exploration plays through operatorship via risk service contracts, farm-in deals or direct negotiation with governments.
Kariya Energy says it will continue playing its ongoing support role by offering financial, technical and operational support to oil and gas firms currently plying their trade in Congo, Gabon and Nigeria.
It says that its strategy is to focus more on the evaluation of new opportunities and innovation to extract resources with technology that has been shown to work.
Meanwhile, the firm has also stated that it will focus on pursuing small-scale liquid and natural gas projects on the continent; a niche that Kariya Energy’s leadership has mastered in terms of both building and making ventures profitable and scalable thereby bolstering the firm’s potential to succeed in the African market.
With Kariya’s technological assets, it can turn around small-scale African LNG, and create partnerships targetted at addressing off-grid power generation for both residential and industrial needs in rural locations as well as deal with issues around energy poverty on the African continent.