Executives of
Société Nationale de Pétrole du Congo (SNPC) and ORION Oil, both companies based in Democratic Republic of Congo (DRC), were at
the UBA House on Friday, July 4, 2014, on a working visit.
L-R: Group Managing Director/CEO, Phillips Oduoza with the Managing Director of Finance and Accounting, Société Nationale de Pétrole du Congo (SNPC) Nganongo Calixte, during the SNPC and ORION Oil working visit to UBA House in Lagos, Nigeria
Led by the Managing Director of Finance and Accounting, SNPC, Nganongo Calixte and Ebata Lucien, Managing Director/CEO, ORION Oil, they were received by
UBA’s Group Managing Director/CEO, Phillips Oduoza.
Nganongo Calixte,
speaking during the visit, explained that they were at the UBA House to show
their appreciation for the strong business relationship between both companies
and UBA, which has seen UBA finance some of SNPC’s key projects.
He used the
opportunity to also request that UBA support the planned $1.5 billion loan
syndication for SNPC to finance the development of new oil fields and other development
initiatives of SNPC.
Oduoza, in his
response, said that UBA is always eager to support transactions originated by
Africans for Africans. He assured that African Banks like UBA, have proved their capacity to finance big
ticket transactions, while assuring the visiting Congolese delegation that UBA
looks forward to this transaction and also partnering with the government of DRC.
“We are willing and ready to work further with
SNPC. Our first transaction was very successful and we are willing to do more
business with you.”
Societe Nationale
des Petroles du Congo (SNPC) supervises petroleum exploration and production
activities in DRC. It also holds interest in oil refining, warehousing and
distribution, natural gas, and oil trading markets. SNPC was established in
1998 and is headquartered in Brazzaville, Congo with additional offices in
Pointe-Noire, Congo and London.
United Bank for
Africa (UBA) Plc is one of Africa’s largest banks with operations in 19 African
countries, a subsidiary in London and business offices in New York and Paris
serving over seven million customers with an array of banking products and
services suitable for both retail, corporate, and institutional customers both
in private and public sectors of the economy.
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ReplyDeleteHe used the opportunity to also request that UBA support the planned $1.5 billion loan syndication for SNPC to finance the development of new Oil and Gas Infrastucture fields and other development initiatives of SNPC.
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