In a groundbreaking move, Nigerian oil and gas company Oceangate Oil and Gas Engineering has signed a multi-billion-dollar deal with Grenada’s Global Petroleum Group to develop one of the Caribbean’s largest oil and gas ventures. This project aims to position Grenada as a major energy hub in the Caribbean.
The Group CEO, Dr. Aisha Achimugu, shared the news on Saturday, stating that this partnership is expected to harness Grenada’s significant hydrocarbon reserves, helping to elevate the island nation’s role in the global energy market. “We are thrilled to enter this partnership, which will bring substantial economic benefits and energy resources to Grenada,” Achimugu said. “Oceangate is committed to sustainable energy solutions that promote economic prosperity while adhering to environmental standards.”
The partnership is anticipated to spur economic growth and create jobs in Grenada, with a focus on infrastructure development and technology transfer. Dr. Achimugu noted that this initiative also marks an important step toward strengthening economic ties between Africa and the Caribbean.
“With a vision to fuel long-term economic growth, this ambitious project will not only increase Grenada’s energy production but will also provide new economic opportunities across various sectors,” added Achimugu.
The venture is expected to play a transformative role in the Caribbean’s energy landscape, positioning Grenada as a key energy supplier in the region.
