DMWA Resources, Schlumberger on asset expansion deal

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DMWA Resources, the newly-born 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 in December 2017 reflects, according to a news source 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.

It was reported that DMWA who has been looking at assets across Africa would use its agreement with Schlumberger to consolidate and grow its upstream oil and gas position across Africa.

“We are successfully leveraging our team’s marketing and trading knowledge with the support of first class upstream firms like Schlumberger,” the Executive Director of DMWA Resources, Sebastian Wagner was quoted to have said.

“We see enormous value-add in offshore and onshore Africa” he says, “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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