Self-Propelled Jackup
Barges and Liftboats

[NIGERIA]

A leading Nigerian oil exploration and production company contracted our customer to provide three (3) jack-up barges for a 3-year tenor. They required the liftboats to support various oil wells maintenance, drilling and production activities in the oil-rich Niger Delta region. Our customer secured the support of Nationwide Equipment to supply quality rigs and Nationwide Finance to raise the needed capital to acquire these self-propelled specialized jack-up barges and liftboats which were shipped to Nigeria from the United States. One of Nigeria’s oldest and leading regional Banks – Wema Bank Plc – provided our customer with the guarantee Nationwide Finance needed to facilitate the transaction.

Financing: Arranged by Nationwide Finance which successfully raised required offshore capital on behalf of Wema Bank.

Dollar Amount: $43,098,000 (millions)

Wema Bank General Managing Director/CEO: Segun Oloketuyi with Nationwide Finance President: Ed Kostenski

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