Grenada is on the brink of becoming a significant energy hub, thanks to a landmark multi-billion dollar agreement between Nigerian oil and gas company Oceangate Oil and Gas Engineering and Global Petroleum Group. This partnership aims to launch one of the largest oil and gas ventures in the Caribbean, focusing on the development of Grenada’s abundant hydrocarbon reserves.
In a statement this morning, Group CEO Dr. Aisha Achimugu expressed excitement about the collaboration, highlighting its potential to bring substantial economic benefits and energy resources to Grenada. She stated, “We are thrilled to enter this partnership with Global Petroleum Group, which will bring substantial economic benefits and energy resources to Grenada.
The ambitious project is designed to fuel long-term economic growth and sustainable development in Grenada. Achimugu stated “With a vision to fuel long-term economic growth and sustainable development, this ambitious project promises not only to elevate Grenada’s energy production capabilities but also to foster job creation, infrastructure development, and technology transfer within the local economy.
“Set against the backdrop of the Caribbean’s evolving energy landscape, the venture is expected to provide unprecedented economic opportunities, delivering benefits across sectors and positioning Grenada as a key energy supplier in the region.”
