• Mauritius/South Africa-based DMWA Resources signs MoU with Schlumberger.
• Agreement paves the way for future collaboration on upstream oil and gas projects in Africa.
• DMWA intends to grow its upstream asset portfolio in 2018.
DMWA Resources, an emerging African energy player, has entered into a memorandum of understanding with the world's largest oilfield services company, Schlumberger, to collaborate on African oil and gas projects.
The three-year agreement, signed on 20 December 2017, reflects the intention of the parties to work together on energy projects in Central and West Africa and the emerging East Africa region. Effective immediately, the agreement kicks off discussions on the Schlumberger products and services that DMWA Resources would use to develop newly acquired upstream assets.
DMWA Resources will use its agreement with Schlumberger to consolidate and grow its upstream oil and gas position across Africa. “DMWA is currently looking at assets across Africa. We are successfully leveraging our team's marketing and trading knowledge with the support of first class upstream firms like Schlumberger,” said Executive Director of DMWA Resources, Sebastian Wagner. “We see enormous value-add in offshore and onshore Africa, where huge opportunities have been overlooked by larger operators in the past. We and our partners have a different vision on Africa and are delighted with its geological prospectivity.”
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