Petroleum Africa
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Thursday, June 10, 2021
Panafrican Energy Services Group announced it has signed a contract with Petroci CI-11 to provide 5 Wells intervention services in the Block CI-11. Under the contract Panafrican Energy Services Group will maximize the Block CI-11 oil and gas field asset value using gaslift and carry out work activities starting this month.
“We are pleased to be awarded this work and the opportunity to collaborate with Petroci,” said Anthony Thia, Director of the West Africa region for Panafrican Energy Services.
“We have high skilled employees and talents for this project and signing this contract is a testimony to the high-quality service we previously delivered in Côte d’Ivoire,” concluded Guy Roger Ngatcha, Executive Director for Panafrican Energy Services.
The agreement represents a prosperous future for the current evolving oil and gas landscape. The African Energy Chamber recognizes the success of Panafrican Energy Services thus far and applauds them for playing their role as a NOC, competing at world class level and standards.
“The oil and gas industry is going to continue to grow and see industry collaborations like these on a much higher scale. We need to encourage more African companies to take the lead in the development of the continent’s oil & gas industry,” said Executive Chairman of the African Energy Chamber, NJ Ayuk.
“If the continent can build on these projects and successfully maximize the Block CI-11 oil and gas field asset value using gaslift, Panafrican Energy stands at a better position at increasing Côte d’Ivoire’s local content structures and push for an enabling environment,” added Ayuk.
The awarded contract serves as a win-win for all parties. Following the agreement, NOCs need to play a much more significant role in making sure that projects have lasting stability to ensure economic growth, global competitiveness and boost investment in the sector.
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