Julius Berger Nigeria Delves into Oil & Gas

By Modupe Gbadeyanka

One of the leading construction firms in Nigeria, Julius Berger Nigeria Plc, has diversified into the lucrative oil and gas industry.

Julius Berger confirmed this in a statement signed on Monday, June 19, 2017, by the company’s Secretary, Mrs Cecilia Ekanem Madueke.

In the letter made available to the Nigerian Stock Exchange (NSE) yesterday, it was disclosed that already, the company has entered into partnership with an oil firm, Patralon Energy Limited, to acquire oil fields in Nigeria.

“Julius Berger is pleased to announce a strategic partnership and joint investment agreement with Patralon Energy Limited for the acquisition and development of oil fields in Nigeria,” Mrs Madueke stated.

“This alliance is in line with the strategic goal of Julius Berger to diversify into the oil and gas sector,” she explained.

However, Mrs Madueke promised that, “Julius Berger would provide further details to the market as the transaction progresses.”