Nigeria, a new market for GSP Holding

October 13, 2015

GSP is in the process of entering the Nigeria market targeting projects amounting over USD500 mil.

“Our discussion with local partners are advanced  and we are in the process to establish a local company there. We are targeting pipeline and offshore construction projects that will start from Q1 2016. We have advanced negotiations with local offshore construction companies that will provide support for local content.” said Gabriel Comanescu, GSP Holding CEO & President of the Board.

The Oil & Gas industry in Nigeria is the largest on the African continent. As of 2014, Nigeria’s petroleum industry contributes about 14% to its economy. Nigeria’s proven oil reserves are estimated between 16 and 35.3 billion barrels and the investment strategic plan in petroleum industry is expected to be about 200 billion USD in the next ten years.