UK-based Strategic Agenda Group (SAG) has entered into a partnership with Austrian firm Klima and Heinemann which will see some $10 billion (£6.5 billion) invested in the Nigerian oil and gas sector.

According to Nigerian paper the Guardian, SAG chairman Chief Funso Abiri made the announcement over the weekend.

The two parties have agreed to provide investment to support upstream operations in the country, in addition to providing training and development facilities to educate local workers.

"We are directing the huge investment for capacity development of indigenous engineers through foreign training and practical attachment to established oil and gas firms abroad," Mr Abiri insisted.

The accord will also see the deployment of the latest technology to maximise upstream efficiency and extraction processes.

In other national developments, earlier this month the Nigerian Petroleum Technology Development Fund opened bidding for construction of the National College of Petroleum Studies, which will be located in Kaduna.

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