Nigerian energy and infrastructure company Shoreline Energy International, has acquired a 51 percent stake in Entrepose DBN – an oil and gas engineering, procurement and construction contractor.
Entrepose DBN, a subsidiary of the French concessions and construction company, VINCI Construction said in a press statement released yesterday that the strategic partnership would see its clients benefitting from the combined strengths of its partners.
Through the partnership, the company hopes to strengthen its operating assets, including Entrepose DBN’s offices in Lagos fabrication yards in Port Harcourt, Warri, One Free Trade and Bonny Island.
Further, the company said: “By welcoming a new shareholder, Entrepose DBN demonstrates its commitment to skills development in Nigeria, and to increasing its impact on the national economy. This is a prime example of the Nigerian Content Act in building the nations industrial capability for the energy industry.”
Africa Oil & Power Advisory Board member, Kola Karim is the Chairman of Shoreline Energy International. The company is considered a leading investor and operator in West Africa’s upstream industry.