M a r k e t N e w s
National Oil and GDC sign agreement to jointly off er oil, gas drilling services
Posted on : Thursday, 25th August 2016
Geothermal Development Company and National Oil Corporation of Kenya will jointly offer oil and gas drilling services in Kenya and the region. The two state-owned firms have signed a deal to provide the services by leveraging on their individual and collective technical expertise. In the memorandum of understanding, GDC will give NOCK equipment and provide specialised drilling services.
The deal also details terms of capacity building, provision of support services, sharing of facilities, joint tendering for consultancy and technical services, as well as information and knowledge exchange. NOCK is involved in the upstream, midstream and downstream petroleum business, and explores oil and gas.
GDC develops and exploits geothermal resources. “This strategic partnership presents a unique opportunity for GDC’s ongoing efforts to optimise its assets in revenue generation,” managing director Johnson ole Nchoe said.
Source : www.the-star.co.ke
