Senegalese maritime services company Oil Senegal Support Services (O3S) has signed a strategic partnership agreement with pan-African multinational financial institution the African Export-Import Bank (Afreximbank).
To the tune of €11.2 million, the deal will enable O3S to acquire a Fast Support Vessel. The acquisition is centered on enhancing O3S’ operational capacity within the offshore oil and gas services industry at a time when major hydrocarbon developments are taking off across the market.
According to Afreximbank, the acquisition of such as vessel promises “to significantly improve infrastructure and ensure the delivery of best-in-class offshore services” in Senegal.
The multinational financial institution added that, “The financing facility not only reinforces Afreximbank’s dedication to fostering economic growth but also underscores its role as a catalyst for advancements in key sectors, aligning with broader developmental goals.”