Grenada has struck a deal with a Nigerian oil and gas company and a Russian petroleum group to launch one of the Caribbean's largest ventures.
The venture aims to develop Grenada's hydro carbon reserves, paving the way for the country to emerge as a major energy hub in the region.
The project is said to be valued at approximately US$1.8 billion, with potential to reach eight billion dollars.
The 38 year production sharing agreement covers over 7,500 hundred square kilometers of off shore blocks.
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