Mauritius based Koral Energy International Limited has announced the acquisition of a floating production unit transferred in contract from Singapore-based Mercator.
The acquisition marks the first strategic investment in Nigeria by a Mauritian company.
Koral was established in Mauritius to leverage opportunities in Africa’s energy industry, with focus on Nigeria.
With the acquisition, the company will invest in the FPU to enhance service delivery to the Ebok field, offshore Akwa Ibom in the Niger Delta.
The Managing Director of Koral, Patrick D’Osia, said the deal was a complex transaction that required alignments of multiple parties across many jurisdictions.