Kuwait-based Independent Petroleum Group (IPG) has announced the successful acquisition of two major oil infrastructure contracts in Sudan and Mozambique, with a total estimated value of $50 million.
According to a statement released by the company on Thursday, the first project—valued at approximately $30 million—will be carried out in Port Sudan, a strategic Red Sea port. The scope of work includes the construction of large-scale oil storage tanks, designed to enhance the region’s fuel storage and distribution capabilities.
The second contract, awarded for a project in Matola, a port city near Mozambique’s capital Maputo, involves the construction of LPG (liquefied petroleum gas) storage tanks. This initiative aims to support Mozambique’s growing energy infrastructure and strengthen its supply chain for domestic and industrial gas usage.
“These two projects are expected to contribute positively to IPG’s revenue streams and overall financial performance, both in the medium and long term,” the company said in its official bourse filing.
With these deals, IPG continues to expand its presence across the African energy sector, reinforcing its role as a key player in oil and gas infrastructure development in emerging markets.