Jan 18 2009 |
more articles from
|
Landmark agreement signed by Dubai World and Federal Republic of Nigeria
Abuja - 18th January 2009: Dubai World , one of the largest holding companies in the world, announced today that it has signed a far-reaching cooperation agreement with the Government of the Federal Republic of Nigeria for investment in a number of key sectors in the Nigerian economy.
Under the cooperation agreement, Dubai Natural Resources World (DNRW) would manage the potential development and production of crude oil and gas reserves through a variety of means including the acceleration of upstream oil and gas assets and the development of gas utilisation projects. Launched by Dubai World in September 2008, DNRW and its affiliates are responsible for investing, developing and managing investments in natural resources within the developing world.
The landmark agreement was signed by His Excellency Sultan Ahmed bin Sulayem, Dubai World Chairman and the Honourable Chief Michael Kaase Aondoakaa, San, Attorney General of the Federation and Minister of Justice for the Federal Republic of Nigeria. Also present at the signing ceremony were Abdul Wahid Al Ulama, Vice Chairman of DNRW, Gary King, CEO of DNRW, and His Excellency Alhaji Bashir Yuguda, the Nigerian Ambassador to the United Arab Emirates, who played an important role in facilitating the signing of the cooperation agreement.
His Excellency Sultan Ahmed bin Sulayem, Dubai World Chairman, commented: "This historic agreement consolidates Dubai World 's strategy of tapping new business sectors
Commenting on the role of Dubai Natural Resources World, Abdul Wahid Al Ulama, DNRW Vice Chairman added: "We are tasked with building a diversified portfolio of investments in companies and assets related to natural resources located in developing markets. It is extremely exciting that we will be involved directly in the oil and gas aspects of this landmark cooperation agreement. DNRW looks forward with excitement to contributing to the Nigeria growth story."
-Ends-
About Dubai World
Dubai World
is Dubai's global investment flag bearer focusing on five strategic growth areas: Transport & Logistics, Drydocks & Maritime, Urban Development, Investment & Financial Services, and Energy & Natural Resources.
Its portfolio comprises some of the world's best known companies, including DP World, Drydocks World & Dubai Maritime City, Economic Zones World, Nakheel, Leisurecorp, Istithmar World and Dubai Natural Resources World.
Dubai World 's strategy is driven by a combination of pragmatic acquisitions and prudent investments and its corporate philosophy is based on strong fundamentals, best ethical practices and integrity.
About Dubai Natural Resources World
DW established Dubai Natural Resources World ("DNRW"), a new business unit, in September 2008 with a mandate to invest in natural resources, including energy, mining and metals, and agriculture. DNRW plans to operate through its oil and gas JV to assist in the development of these upstream assets in Nigeria.
For further information, please contact:
Dubai World
Sanaa Maadad
+971 50 5522610 / Sana.Maadad@dubaiworld.ae
Manager, Media Department
Dubai Natural Resources World
FD:
Dubai:
John Hobday
+971 50 4648706 / john.hobday@fd.com
Manash Bhuyan
+971 50 8419631 / manash.bhuyan@fd.com
London:
Seán Galvin
+44 (0) 207 269 7133 / sean.galvin@fd.com
© Press Release 2009
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment