CapSea Marine Ltd.

African Capital Alliance (ACA) is pleased to announce that it has acquired a majority stake in CapSea Marine, the owners of a Floating Production Storage Offtake (FPSO) vessel. An FPSO vessel is used in the offshore production of crude oil.
In 2008 ACA partnered with experienced Nigerian oil and gas professionals to establish CapSea Marine to acquire the FPSO. CapSea Marine will be supplying offshore production facilities to independent oil producers operating in the shallow offshore in the West African region.
The CapSea Marine investment is in line with ACA’s strategy of backing experienced management with credible track record in businesses that provide steady cash flows. The investee company is well positioned to supply services to independent oil producers at a cheaper cost than any of the alternatives.
CapSea Marine marks ACA’s fourth investment in the oil and gas sector in Nigeria. The investment was made through ACA’s Capital Alliance Private Equity II Fund (CAPE II), which was established in May 2005 to capitalize on investment opportunities throughout Nigeria and West Africa. The fund has invested in a range of sectors including financial services, telecommunications, and oil and gas.