DMWA Resources, an emerging African energy player, has entered into a memorandum of understanding with the world’s largest oilfield services company, Schlumberger, to collaborate on African oil and gas projects.
The three-year agreement, signed on 20 December 2017, reflects the intention of the parties to work together on energy projects in Central and West Africa and the emerging East Africa region. Effective immediately, the agreement kicks off discussions on the Schlumberger products and services that DMWA Resources would use to develop newly acquired upstream assets.
DMWA Resources which has offices established in Johannesburg and Mauritius says it will use its agreement with Schlumberger to consolidate and grow its upstream oil and gas position across Africa.
“DMWA is currently looking at assets across Africa. We are successfully leveraging our team’s marketing and trading knowledge with the support of first class upstream firms like Schlumberger. We see enormous value-add in offshore and onshore Africa, where huge opportunities have been overlooked by larger operators in the past. We and our partners have a different vision on Africa and are delighted with its geological prospectivity,” said Executive Director of DMWA Resources, Sebastian Wagner.”
DMWA Resources which was formed in May 2016 is an oil & gas advisory, E&P and trading firm whose focus extends to acquiring prospective acreages and specialize in the resale of crude oil, natural gas and refined products. The company is the brainchild of Sebastian Wagner, who previously worked as Business Developer and Trading Operations Manager for Trafigura and associated firms, managing oil trades across the barrel of African crude and refined products while simultaneously pursuing pre-financing opportunities with West and Central African sovereigns.