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Petrodel Resources Limited and Shoreline Power Company Limited announce joint venture for integrated energy and power projects In recognition that the greatest development challenges facing African nations in the 21st century concern access to affordable energy and power resources, Petrodel Resources Limited and Shoreline Power Company Limited are pleased to announce the formalisation of their strategic co-operation in a joint venture. Petrodel and Shoreline entered into this joint venture to unite Petrodel’s expertise of strategic supply and price risk management with Shoreline Powers infrastructure, manufacturing and management capabilities in order to best serve clients on the African continent who often require integrated energy and power solutions. Tim Le Breton Petrodel Resources MD says ‘We have identified our role in the African market and whilst we are currently active in Nigeria, Tanzania, Uganda, The DRC and South Africa the goal is the creation of a Pan African energy and power resource providing affordable energy and power to the people’s of the African Continent’. Shoreline Power Company Limited, CEO Kola Karim, says ‘There is a natural synergy that exists between our two companies and this JV is between two serious and like minded entities determined to bring a fair deal in energy and power resource to the people’s of the African Continent. Petrodel and Shoreline know from experience that the challenges and demands that face Africa today are unique and as such require tenable solutions which can only be provided by companies like Petrodel and Shoreline who are prepared to make a long term commitment to the continent while at the same time adhering to the highest professional standard in corporate governance. The Joint Venture plans to tender for oil blocks in the Niger Delta in the bidding rounds scheduled for October as well as for other projects in some West African countries. Background Information: PETRODEL: The Petrodel business is focused on bringing value added to Africa’s oil and gas sector. Given the often peculiar nature and risk profile of much of the African continent’s business counterparts, the Petrodel focus has evolved from economies of scale trading, to energy asset investment and risk management and, in so doing, finding tailor-made solutions for counterparts and countries from which the classic banking and lending institutions have shied away. Petrodel’s strategy is predicated upon developing regional systems, from exploration and development of oil and gas reserves through crude trading, processing, supply, storage and wholesale distribution of refined products, shipping and ship’s agency services. The foundations of the Petrodel business are firmly embedded in long term relationships developed through investment in the people’s of the African continent. SHORELINE POWER COMPANY LIMITED: The company’s business volume has grown at a steady rate and Shoreline Power Company Limited has increased its customer base both among Government establishments as well as private industries. The business is geared towards driving the modernisation and rehabilitation programme of Nigeria’s power generation, transmission and distribution infrastructure. Shoreline Power offers a complete range of power generation equipments in modular / static form for rapid deployment and possesses the manpower to provide total power management. The Company has worked on solutions across the continent, including rural electrification projects, inter-town connectivity, building in town distribution network, planning feasibility study and supply of substations .....................................................................................................................................
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