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DPR Seeks South African Investment In Oil, Gas

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The federal government has urged south African government to explore investment opportunities in the nation’s oil and gas sector for growth.

The department of petroleum resources (DPR) director, Mr. Ladan Modecai, gave the advice at the Nigeria – south Africa chamber of commerce breakfast meeting in Lagos.

Mr. Modecai maintained that the development became necessary in order to impact on the economy of South Africa and other countries in the continent.

He added that the country’s oil and gas sector boasts of $50billion investment, saying the cash is huge enough to bring about growth in African countries, including south Africa.

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Represented by deputy manager, gas exploration and production, Joseph Ogunsola, the DPR director urged south Africa to leverage Nigeria’s gas potential for growth.

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