Saipem signs joint venture with Dangote Group

Italian oil service group Saipem said on Wednesday it had signed a joint venture with Nigeria-based Dangote Group to develop business in central and west Africa.

The news confirms a Reuters report in March (which we reported here) saying Saipem was close to signing a joint venture with a leading Nigerian company. “This new partnership confirms the shared commitment of the two groups to both the Nigerian market and sub-Saharan Africa more widely,” Saipem said in a statement. Saipem is 43 percent controlled by Italian oil major Eni.

Source: Reuters