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20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock you! Post / 30 Facts About Owners Of Nigeria’s Richest Oil Blocks In The Midst Of Poverty / Nigeria’s Richest Oil Blocks Owners Exposed: Names & Detail (2) (3) (4)
|20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by Nobody: 3:47pm On Apr 29, 2015|
It’s more news the North wants GEJ out of the way, so their licenses can be renewed cos most of them are expiring from 2016 upwards.
Monumental injustice is being perpetrated to the people of Niger Delta on whose soil the oil was found.
These people constitutes the main opposition to President Goodluck Jonathan today. Please Read on:
(1) This oil block business is so lucrative that Danjuma’s Sapetro divested of its investment in Akpo condensate for $1billion dollars. This business is second to none in Nigeria. That is why any attempt to investigate the activities in this sector will always be futile. The money is so much that they give bribes in millions of dollars.
A birthday gift or child naming gift from an oil block owner to a government official could be as paltry as $2million dollars, and if the official’s father died, the condolence gift could reach mere $3 million dollars. When they want to bribe legislators, it is in millions of dollars and any ongoing investigation ends within weeks. They are so confident that with excess money they can buy up Nigeria and they are succeeding
(2) OML 110 with high yield OBE oil fields was given Cavendish Petroleum owned by Alhaji Mai Daribe, the Borno Patriarch in 1996 by Sanni Abacha. OBE oil field has estimated over 500 million barrels of oil. In layman’s language and using average benchmark of $100 dollars per barrel, translates to $50 billion dollars worth of oil reserve. When you remove the taxes, royalties and sundry duties worth about 60% of the reserve payable over time you get about $20billion dollars worth of oil in the hands of a family.
(3) OPL 246 was awarded to SAPETRO, a company owned by General Theophilus Danjuma, by Sanni Abacha in 1998. Akpo condensate exports about 300,000 barrels of crude daily.
(4) NOML 112 and OML 117 were awarded to AMNI International Petroleum Development Company owned by Colonel Sanni Bello in 1999. Sanni Bello is an inlaw to Abdulsalami Abubakar, former Head of State of Nigeria.
(5) OML 115, OLDWOK Field and EBOK field was awarded to Alhaji Mohammed Indimi from Niger State. Indimi is an inlaw to former Military President Ibrahim Babangida.
(6) OML 215 is operated by Nor East Petroleum Limited owned by Alhaji Saleh Mohammed Gambo.
(7) OML 108 is operated by Express Petroleum Company Limited is owned by Alhaji Aminu Dantata. (cool OML II3 allocated to Yinka Folawiyo Pet Ltd is owned by Alhaji W.I. folawiyo
(9)ASUOKPU/UMUTU marginal oil fields is operated by Seplat Petroleum. Seplat is owned by Prince Nasiru Ado Bayero, cousin to the Central Bank Governor Lamido Sanusi. This oil field has the capacity of 300,000 barrels of oil daily. This translates to $30million dollars daily at average benchmark of $100 dollars per barrel. Deducting all sundry taxes, royalties etc , this field can yield $12billion dollars daily for the owners .
(10)Intel owned by Atiku, Yarádua and Ado Bayero has substantial stakes in Nigeria’s oil exploration industry both in Nigeria and Principe and Sao Tome.
(11) AMNI owns two oil blocks OML 112 and OML 117 which it runs Afren plc and Vitol has substantial stakes in oil blocks. Afren plc is operating EBOK oil fields in OML 67. Vitol lifts 300,000 barrels of Nigerian oil daily. Rilwanu Lukman, former OPEC Chairman has stakes in all these named three companies.
(12) OPL 245 was awarded to Malabu Oil& Gas Company by Sanni Abacha. Dan Etete, Abacha’s oil minister owns Malabu Oil. In 2000, Vice President Atiku Abubakar convinced Obasanjo to revoke OPL 245 given to Malabu Oil. Etete had earlier rejected Atiku’s demand for substantial stakes in the high yield OPL 245 and it attracted the venom of Ota Majesty who revoked the licence. However, in 2006, Obasanjo had mercy on Dan Etete and gave him back his oil block worth over $20 billion dollars.
(13) OPL 289 and OPL 233 was awarded during Obasanjo era to Peter Odili fronts, Cleanwater Consortium, consisting of Clenwater Refinery and RivGas Petroleum and Gas Company. Odili’s brother in law, Okey Ezenwa manages the consortium as Vice Chairman.
(14) OPL 286 is managed by Focus Energy in partnership with BG Group, a British oil concern. Andy Uba has stakes in Focus Energy and his modus operandi is such that you can never see his name in any listings yet he controls OPL and OML through proxies
(15)OPL 291 was awarded to Starcrest Energy Nigeria Limited, owned by Emeka Offor by Obasanjo . Immediately after the award, Starcrest sold the oil block to Addax Petroleum Development Company Limited (ADDAX) Addax paid Sir Emeka Offor a farming fee of $35million dollars and still paid the signature bonus to the government. Emeka Offor still retains stake in ADDAX operations in Nigeria.
(16) Mike Adenuga’s Conoil is the oldest indigenous oil exploration industry in Nigeria. Conoil has six oil blocks and exports above 200,000 barrels of crude daily.
(17)The oil block national cake sharing fiesta could take twists according to the mood of the Commander-in –Chief at the particular time. In 2006, Obasanjo revoked OPL 246 which Abacha gave to Danjuma because he refused to support the tenure elongation bid of the Ota Majesty. In 2000, Obasanjo had earlier revoked OPL 241 given to Dan Etete under the advice Atiku. However, when the Obasanjo-Atiku faceoff started, the Ota Majesty made a u-turn and handed back the oil block to Etete.
(18)During the time of Late President Yarádua , a panel headed by Olusegun Ogunjana was set up to investigate the level of transparency in the award of oil blocks. The panel recommended that 25 oil blocks awarded by the Obasanjo be revoked because the manner they were obtained failed to meet the best practices in the industry. Sadiq Mahmood, permanent secretary in the Ministry of Petroleum endorsed the report to then president with all its recommendations. As a result of the report Yarádua revoked eleven oil blocks.
(19) In April 2011 Mike Adenuga attempted to buy Shell’s OML 30 for $1.2 billion dollars. The Minister for Petroleum and Nigeria’s most powerful woman refused the sale of the OML30 to Adenuga citing national interest. This block was later sold to Heritage Oil for $800 million dollars eleven months later.
(20) In the name of competitive bidding, which Obasanjo introduced in 2005, Officials bring companies overnight and through processes best described as secretive and voodooist they award blocks to party faithful, fronts and phoney companies. They collect gratifications running into hundreds of millions of dollars which is paid into offshore account and the nation loses billions of dollars of revenue to private pockets.
During the third term agenda, Obasanjo was deceived that the allocation of oil block to party faithfuls is to fund the third term agenda. With the failure of the third term, the beneficiaries went home with their fortunes and thanked God or Allah for buttering their bread.
Senator Andy Uba co ordinate the award of the last rounds of oil block by Obasanjo in 2005 and 2007. The then minister of petroleum, Edwin Daukoru was a mere errand boy who took instructions from the presidential aide
The process of sharing Nigeria’s oil block national cake is as fraudulent now as when Ibrahim Babangida started the process of discretionary allocation of oil blocks to indigenous firms. Discretionary allocation of oil blocks entails that a president can reward a mistress who performs wonderfully with an oil block with capacity for cumulative yield of over $20 billion dollars without recourse to any process outside of manhood attachments.
Babangida, Abacha, Abdulsalami and Obasanjo awarded discretionary oil blocks to friends, associates, family members, party chieftains, security chiefs and all categories of bootlickers, spokespersons and cult members without any laid down procedures.
The recipients of such oil blocks will get funds from ever willing offshore financiers and partners to graciously settle the benefactors, the awarders, facilitators and the Commander-in-Chief through fronts. These settlements mostly paid into foreign accounts runs into hundreds of millions of dollars according to the potential yield of the block.
Sometimes, the awarder (sharer of national cake and direct intermediaries) demand additional stakes in the bidding company. The awarder sends fronts as part of the directorship and management of the bidding firms without leaving a link to them. That is how the oil block national cake is distributed to a few Nigerians.
Signature bonuses which are paid when an investor successfully bids, wins and signs agreement with the petroleum ministry, running into tens of millions and sometimes hundreds of millions of naira ,is often waived off. There is actually no waiver; rather a diversion of what would have been paid to government t coffers is paid into private purse as appreciation gifts.
That is why those in the Petroleum Ministry dread retirement as though it signifies going to hell fire. No matter how little your influence, something substantial must enter your hands especially in hard currency. The nation loses billions of dollars in diverted revenue whenever any round of auction occurs.
The regime of President Goodluck is not showing any signs of changing the status quo. Controversies have trailed the activities of the Minister of Petroleum and many players in the Industry accuse her of demanding stakes from every oil deal. It is hoped that President Goodluck Jonathan will remember his transformational promise to Nigerians and endeavour to face the hawks in the oil industry.
The angst in the air is so much that if this monster of illegal allocation of oil block is not addressed, the much touted revolution could begin all of a sudden and all who condoned this illegality at the expense of hungry Nigerians may have nowhere to hide.
Culled from How Babangida, Abubakar, Abacha, Obasanjo Shared Nigeria’s Oil Blocks
– Written by Obinna Akukwe
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by ziccoit: 3:53pm On Apr 29, 2015|
If due process was followed and the property was acquired legally, there is nothing bad in that. Remember oil blocks are not dashed out freely, people have got to pay.
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|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by IGBOSON2: 4:00pm On Apr 29, 2015|
Was quota-system and it's evil twin federal character considered when awarding these blocs!?
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by Nobody: 4:13pm On Apr 29, 2015|
Give the blocs back to the communities.
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by rukytaiga(m): 5:12pm On Apr 29, 2015|
its funny but how come majority of the oil wells are owned by d northerners...how transparent is that?
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by Nobody: 5:20pm On Apr 29, 2015|
We shall together make it here in Naija. If they can make it here in Naija, I can also make it. Watch out for me!
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by DaGC(m): 5:21pm On Apr 29, 2015|
Reading the OP, one might start to think that the northerners are the most wealthy Nigerians and that the north is the most developed region of the country.
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by PedroJP(m): 5:43pm On Apr 29, 2015|
Do u think it will happen ? I didn't expect this response from you. If they can give it back, that simply means, they will be sending u packing too. That's the interest of our being together, just that it goes to only a few.
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by PedroJP(m): 5:46pm On Apr 29, 2015|
Major problem is that it goes to a few who wouldn't even lend to institutions here or establish institutions here, rather, they dump and provide funds for foreign countries where they feel they hide the money.
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by lionstone: 5:50pm On Apr 29, 2015|
NONE OF THOSE NIGER DELTAS WHO HAVE THE OIL IS EVEN AMONG. NO WONDER THE NORTHS ARE REJOICING MADLY SINCE GEJ LOST SO THAT BUHARI CAN RENEW IT FOR THEM.
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|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by Holywizard(m): 6:15pm On Apr 29, 2015|
may thunder fire Nigeria as a country!!!
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|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by Holywizard(m): 6:16pm On Apr 29, 2015|
Nigeria will soon like a breaastZ
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by rabbuy(m): 6:24pm On Apr 29, 2015|
Na wa oh na northerners all these oil well belong too so?
If they wanted to share a goddamned national oil well dem for atleast make am go round na
No wonder ALHAJI is now the title for a filthy rich son of a b.itch
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by stanech: 6:34pm On Apr 29, 2015|
even d bible says Fear North
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by coputa(m): 6:38pm On Apr 29, 2015|
lionstone:zI wonder,it was a collective conspiracy against niger delta.Sometimes i begin to wonder why gej.didnt correct this fraud amd injustice
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|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by Surplus90(m): 7:02pm On Apr 29, 2015|
do u guys see dis?...Buhari has not committed any crime...
1 Like 1 Share
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by ednut1(m): 7:08pm On Apr 29, 2015|
most know noting about d business. jst to subcontract to foreign companies and sidon dey chop royalty. even ex tailor get oil block. the day i go her website to look for job. i saw f****a oil has never and will never advertise jobs online
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by Dgreatestt: 7:25pm On Apr 29, 2015|
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by bigsam360(m): 7:27pm On Apr 29, 2015|
Surplus90:There's a difference between a fundraising event and an Official diplomatic event taking place in the Country's State house..
For pets sake, that was a wrong move by GMB and even APC realize how wrong dat move iz and quickly reverse d dicision.
If u most b a supporter, atleast try and think first.
Back to topic, do much money in dis country. Me self go make am in dis country
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by cuteboy2: 7:33pm On Apr 29, 2015|
What is the big deal about paying for oil block?
Where did the seamstress Funsho Alakija get money to pay for Agbami, one of the largest deepwater oil blocks in Nigeria given to her by the IBB regime? Even more so, where did she get the money to fund her own share of the development cost of this field which ran into billions of US$ when she was penniless at that time.
My guy if you are awarded a juicy oil block, financial institutions will literally break down your door to help you finance the purchase and fund the development. IOC's and others will harass you daily to allow them to Farm-into the block in return for some equity oil. And you don't even have to know the difference between crude oil and kerosene.
This country ehnn. God will judge and punish all these corrupt people who have conered our commonwealth for themselves, friends and family members (cousin, inlaw, etc)
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by bright007(f): 7:47pm On Apr 29, 2015|
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by Faremisodeeq(m): 8:13pm On Apr 29, 2015|
Oyel in the south is dominated by hausas and the indigenes of the oyel state are suffering still they are doing nothing about it
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by Lilimax(f): 8:30pm On Apr 29, 2015|
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by truefact: 8:33pm On Apr 29, 2015|
All the so called ND who feared Igbo domination, are you not been over dominated by Hausa-Fulani who live miles away? Who is now a fool...you chased your brother away only yon invite a stranger to rape you and slave you
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by mapet: 8:41pm On Apr 29, 2015|
This OP and the source are patent falsehood and misapplication of facts. I refer you guy's to Akinoso's article.........and anybody working in the industry can also verify the points
The North Does Not Control Nigeria’s Oil Blocks, By Toyin Akinosho
Senator Ita Enang’s spirited claim at the National Assembly Wednesday to the effect that 83% of the country’s oil block is in the hands of northerners appears to be inspired from assertions contained in an old article by a newspaper commentator, Mr. Ross Alabo-George whose famous essay was titled Poverty And Deprivation: Why The North Is Poor.
In the excerpted refutation below, Toyin Akinosho, a petroleum geologist with over two decades of work at Chevron and now publisher of the well-regarded Africa Oil and Gas Report, argues angrily that such lines of thought canvassed by the likes of Senator Ita Solomon Enang and indeed Mr. Ross Alabo-George are merely hysterical, and tendentious, designed to mislead the public. Mr. Akinosho characterizes the arguments as crappy and crummy. It is excerpted from the African Oil+Gas Report for the value it brings to the current debate about Nigeria’s oil resources and the National Question.
Alabo-George’s article plays up so well the sentiments that a good number of Nigerians, especially middle class types excluded from the spoils of the petroleum subsidy, and allied deliverables, nurse about the kind of leadership we have suffered since independence.
But it has gone around so far and keeps being forwarded so rampantly, largely because it plays to the ethnic schism; the suspicions that each of us harbours, in our different silos, about “the other”.
It’s largely a response to the disingenuous claim by Sanusi Lamido Sanusi, the Central Bank Governor, that the Boko Haram insurgency is a response to the 13% derivation allocated to the oil producing states from the federation account. “There is clearly a direct link between the very uneven nature of distribution of resources and the rising level of violence”, Sanusi told The Financial Times of London.
Alabo-George’s piece is compelling when he contrasts what non oil-producing Southern states have been able to do with their supposedly meager allowances with what their Northern counterparts have done with their own allocations.
“Ekiti State has about the same revenue as Yobe and Gombe”, he contends, “but only 17 students passed WAEC and NECO in Gombe state last year, while Ekiti State is known for its high literacy level”.
I find two beautiful quotable quotes in the article: (1) “Borno State has a bigger budget than that of Cross River, a Niger Delta State. While the leaders of Cross River over the last decade have transformed it into the nation’s leading tourist destination, those of Borno have transformed it into a Somalia”.
(2) “Gombe State has a bigger budget than Enugu and Anambra, why has MASSOB not bombed anyone”?
But once Alabo- George ventures beyond the political economic analysis and starts to list who owns what oil and gas assets, his article is a litany of inaccuracies and lies. He gets it totally wrong.
He writes about the estate of the late Mai Deribe, the Bornu State born businessman, supposedly owning a huge oil field; Rilwanu Lukman having controlling shares in Afren; Atiku Abubakar being the stupendously rich beneficiary of the profits of Intels, the logistics company; Aminu Dantata’s Express Petroleum. He ties Amni Petroleum to only Sani Bello.
So much conspiracy theory.
Oil acreage ownership in Nigeria does not have ethnic colouration. What’s more important, sustaining production from oil and gas assets, whether or not awarded by the state, is determined by how much of a businessman you are.
When Jibril Aminu handed out oil prospecting blocks, in the first comprehensive effort “to encourage indigenous participation” in 1991, he gave blocks to companies owned by Folawiyo, Abiola, Adenuga, Udoji, Ibru, Igbinedion,(all Southerners) as much as he gave to enterprises set up by people like Saleh Jumbo and Mai Deribe.
Between 1991 and 1993, we suddenly had over 25 companies, that were Nigerian E&P companies and they took themselves so seriously that they set up an association they christened “Nigerian Association of Indigenous Petroleum Exploration Companies”. But what did these people do with the acreages? They were mostly clueless about how to progress things.
Out of that class of awardees, only Mike Adenuga created what you could really call an E&P company. He is the only one producing oil today, from his own block.
It’s bad enough that Nigerian indigenous private acreage holders don’t produce, as a collective, up to 150,000 Barrels per day, or 7% of the national daily production, so why are we fighting ourselves?
And I am less keen on how much you’re getting as rent from the asset you are holding, than the capacity you are building as manager of a Nigerian oil company who is awarded the asset, in trust for the rest of us.
I am for an ongoing, earnest debate on the National Question. But false information misleads all of us into false conclusions, which reduce the complexity of the solutions we ought to be proffering.
The author cites a number of hydrocarbon acreages belonging to Northern elites, but ignores the fact that holding an acreage is one thing; getting value out of it is another.
That so many people believe the poorly researched article, and so instantly forward it that it becomes one of the most travelled essays on the National Question, is testimony to poor knowledge of how the oil industry works.
The first field the author mentions is Obe field, which, he rightly claims, is held by Cavendish Petroleum, a company set up by Alhaji Mai Deribe. Alabo- George lied by saying that the Obe field, the main hydrocarbon pool in OML 110, contains 500Million barrels of oil reserves.
The Obe field does not have a proven 20 Million barrels. I am not sure it has 10Million barrels. It is not producing as I write. The Obe field has not produced for five years, since 2007, when Tranfigura, the last technical partner engaged by Cavendish, walked out.
I don’t know what discipline Mr Alabo-George belongs to, but this point I am about to make is well known to every junior petroleum geologist with three year experience in the crummiest E&P company: If a field holds 500Million barrels of oil, proven, in shallow water Nigeria, it won’t lie fallow. Investors would rush it.
In countries where you don’t have the complications that the NNPC brings to the table here, fields that haven’t proven much more than 500Million barrels are “rushed” through to development.
Ghana’s Jubilee field didn’t prove a billion barrels before the country’s authorities approved a field development plan. Apart from Nigeria, Angola, Libya, Algeria, Ghana (now, since 2008) and perhaps Equatorial Guinea, no African country has a billion barrels in proven reserves. 500 Million barrels is half of that.
Mr Alabo-George says that Obe has the capacity to produce about 120,000 barrels of crude oil daily from its OBE 4 and OBE 5 wells. What sort of numeracy is this? Or is he dreaming these figures? How can a field with less than twenty million barrels “have the capacity” to produce 120,000 barrels per day?. What’s capacity?
Alabo George’s second example of a wealthy northerner swimming in oil money is Mohammed Indimi, “a Fulani and close friend of General Ibrahim Babangida”. He says “Oriental Energy Resources Limited runs three oil blocks: OML 115, the Okwok field and the Ebok field. OML 115 and Okwok are OML PSC, while Ebok is an OML JV. All of them good yielding offshore oil blocks”.
The author just doesn’t care to verify his claims. True, Indimi’s Oriental Resources holds the three assets. OML 115 is not producing as I write. No one has certified that there’s a producible field in the acreage. Ebok is being produced, on Oriental Resources’ behalf, by Afren, a UK listed company. Last year, the field delivered an average of 8,000Barrels of Oil per Day(BOPD), according to Afren’s website. You can google it. Okwok, as I write, is still in development. Translation: it has produced nary a drop of oil.
Aminu Dantata’s Express Petroleum holds the Oil Mining Lease 108, with technical partners Shebah Petroleum, which bought out Conoco, the original technical partners. Fine.
The Ukpokiti field, the main asset on the acreage, produced for quite a while; and should have made the Dantatas quite rich, over a period of more than seven years. The field died out at some point and is being revived as I write.
“NorthEast Petroleum is owned by another Fulani businessman from the North East, Alhaji Saleh Mohammed Jambo”, Alabo-George testifies. “The license was awarded to him by General Ibrahim Badamosi Babangida”.
Another truth: North East Petroleum has NEVER produced a single drop of oil since that award in the early 90s. There, simply, hasn’t been a discovery worth the while for operator TOTAL.
I agree that Theophilus Danjuma, also a Northerner, is entitled to contest for the award of the man who made the most fortune, at a sitting, on an oil acreage in Nigeria.
Alabo-George’s article, in his rush to conclusions, even understates the significance, by claiming that Danjuma’s company, South Atlantic Petroleum Limited(SAPETRO), made $1Billion from the deal.
The truth is that China National Overseas Offshore Company(CNOOC ), signed a definitive agreement with SAPETRO to acquire a 45% working interest in OML 130 for $2.268 billion cash.
I don’t know how much the broker of the deal took, but I am yet to confirm if the Nigerian government earned any withholding tax from that transaction. In spite of what he has earned “upfront”, Danjuma’s SAPETRO gets 25,600Barrels of Oil per day for its 15% of OML 130 from the Akpo field, which is delivering 175,000BOPD.
But if you complain about Northerner Danjuma, what about the Alakijas, a Yoruba couple whose company, Famfa Oil, is “entitled”, every day, to 25,000BOPD from Chevron operated Agbami Field, located in deepwater OML 127?.
These two companies are two of the four largest producing Nigerian companies today. The other two are Adenuga’s Conoil(25,000BOPD) and Seplat Petroleum(37,000BOPD, operated, 16,000BOPD, equity).
Only one of those four companies is Northern owned. And it is outright falsehood that “ 80 per cent of crude oil and gas produced by indigenous companies is controlled by the North-East”.
But, as I said again: which technical and managerial capacity are we building on the back of the rent collected from these leases. It’s the real job.
The last example I’d touch, before the concluding commentary, for space purposes, is the case of Rilwan Lukman, who Alabo-Gorge cites as having controlling shares in Afren, the UK listed company. Lukman was there on the ground floor of the construction of Afren, around 2004, no doubt, but the key founders of Afren are Ethelbert Cooper, the Liberian businessman and Osman Shahenshah, who is the current Chief Executive.
What people like Lukman and Egbert Imomoh, the other Nigerian on the company’s board in the founding days, did, is the kind of thing I urge Nigerians in their positions to do.
Use your knowledge to access and create value, not to grab and destroy value. Cooper and Shanenshah knew that Lukman(then out of office both from OPEC and as Nigerian special adviser), and Imomoh(then recently retired as Deputy Managing Director Of Shell Nigeria) knew the Nigerian oil industry deeply and could access oil and gas fields that were lying fallow.
Shanenshah, coming from a financial services background, knew how to raise funds: the most important thing in oilfield exploration and development. Indeed the first piece of news by which most people knew of the existence of Afren was that the IMF had agreed to give a 5Million dollar loan to this company, which was only just about starting. It pays to have Lukman on your board.
Yet, in spite of Lukman’s influence in the Nigerian polity, Afren had never accessed Nigerian acreages via government awards. Afren, cash in hand, running a technically proficient company, approaches Nigerian indigenous owners of assets-like Ndimi’s Oriental Resources, Amni and several marginal field holders, and signs agreements with them to be technical partners.
After Afren has recovered its investment via cost oil, Afren and the company continue to share the proceeds from the field 50:50 for the life of the field. Afren uses Nigerian technical capacity to a large degree and it trains a lot of people. But it can do more.
Afren has never benefitted from bid round or government-sanctioned discretionary awards, so why would anyone link Lukman’s involvement in Afren in a list that has a number of Northerners supposedly benefitting from government largesse? That is part of the trouble I have with Alabo-George’s essay.
I wouldn’t compare Lukman’s relationship with Afren to the benefits that Atiku Abubakar derives from being a part owner of Intels, the logistics company which takes advantage of the free trade zone in Onne, near Port Harcourt.
This particular example helps us to locate “the Nigerian tendency”, beyond “the Northern tendency”, in this discussion. Because, really, we are just all the same.
A foreign company comes to Nigeria to set up for business. Because of the difficulties we invent as barriers to entry, this company requires the services of some big Nigerian men, preferably those who have worked for government, for access.
What Atiku Abubakar has done with Intels has parallels in other sectors of the economy and is comparable with what Yoruba chieftains, Ijaw leaders, Igbo High Chiefs, Idoma overlords, etc, etc, have done with many other companies operating here.
That’s how people became key shareholders of companies like Julius Berger. As I write, the key sentiment underlining the complaints against the tolling on the Lekki Expressway is that “most of the money will go to Tinubu’s pocket”. That’s the word on the street.
Brokerage is not a bad thing on its own, but what we need to stress is a level playing field, rule of law, security of tenor and equity and fairness as much as possible, for all.
If I really want to be mischievous, I’d focus on the recent deal in which Shell and Agip have had to pay in excess of one billion dollars to Dan Etete, a south-south man, for stakes in Oil Prospecting Lease OPL 245. And I would ask “Is that necessarily right”? Should the president, a south-south Ijaw man, have waded in to ask Shell and Agip to move the deal forward? But that’s a story for another day.
In my book, people from everywhere have taken advantage of the unstructured way we have dispensed with oil and gas acreages. Naming names about which Northerner got what size of the pie is less useful than a focus on how government is insisting on open and transparent bidding, but more importantly, on Nigerian technical know how and management.
You can’t hand over an acreage and walk away. You have to monitor what the holder is doing. How he is ensuring employment. If we can’t, with all the treasure, build five private E&P companies that have the internal competencies that Shell has and can go out and buy and operate assets the way that UBA and GTB and Ecobank venture into Ghana and The Gambia, then we have wasted all of the 56 years we have spent since the hoorah at Oloibiri.
Akinosho, a petroleum geologist, former news reporter, and one-time community newspaper editor, is now publisher of the well-regarded African Oil+Gas Report
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|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by tonychristopher: 8:50pm On Apr 29, 2015|
Niger delta especially ijaw and sobo people are daft..ogogoro drinking clans not even one of them is mentioned
Thank lord I am not from there ..i for ....
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by tonychristopher: 8:55pm On Apr 29, 2015|
Ijaw man will always be stupid and he proved it..go to bayelsa state and see them drinking ogogoro...just reg
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by ignis: 9:12pm On Apr 29, 2015|
Is there due process in Nigeria's dictionary?
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by kodlins(f): 6:35am On Apr 30, 2015|
For those who don't know, I have always opined that 2015 was all about the oil. Not about any bloody change or unsitting a non performing Government.
It's unfortunate that the youths used to achieve this goal did not see beyond the meagre thousands they were paid!!
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by owobokiri(m): 7:08am On Apr 30, 2015|
This injustice must be correct. This heist is evil. I don't even think Jonathan would have corrected it. He was that weak for such revolutionary changes and while Buhari may not be as brazen in his corrupt dealings, this is all about northhern interest and he will do everything to protect it. There is a reason he is the most loved politician in the north. That said, this oil well nonsense must be revisted and corrected
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by Genius100: 7:10am On Apr 30, 2015|
Nonsense. Junk journalism
|Re: 20 Owners Of Richest Oil Blocks In Nigeria – Their Names Will Shock You. by rusher14: 7:31am On Apr 30, 2015|
Please find listing below:
Name of Operator
Year of Award
Names of Directors/shareholders
Alfred James Petroleum
Adewunmi Sijuade, Goke Sijuade, Adedeji Sijuade, Olayinka Sijude, Adeyemi Osiyemi and Femisola Awosika, with A.O Adeyinka as Chairman
Soglas Nigeria Limited
Oscar P. Udoji, P.E Udoji, E.E. Nwosu, with J.O. Udoji as Chairman
OPL 215, 840 &902
Kommer Complex Limited, Nwokema Ngozi Mbu, Abubakar Jubril and Ashiru B. Aliu, A. Ayankoya with Saleh Jambo as Chairman
R.D. Adelu, Yusuf N'jie and O.A. Aremu with Ibrahim Bunu as Chairman
OPL 238 & OPL 311
Olaniyi Olumide, Hayford Alile, Samuel Bolarinde, Richard Adelu, Martins Olisa, John Brunner and Emmanuel Ojei
OPL 108 & 227
Ahmade Rufai, Tajudeen Dantata, Dalhatu Gwarzo, Lawan Omar with Aminu Alhassan Dantata as Chairman
Dubril Oil Co. Nigeria
B.N. Itsueli, C.A. Itsueli, O.O. Itsueli, A.E. Ihuegbu with U.J. Itsueli as Chairman.
Amni Int. Petroleum
OPL 112 &117
E.C Edozien, Tunde Afolabi with Sanni Bello as Chairman
Atlas Petroleum Int. Nig Ltd
Umaru Ndanusa, Ikechukwu Joseph, Mohammadu Murtala with Arthur Eze as Chairman
OPL 103, 458, 136
1993, 1998 &2006
O. Adenuga and Ebi Omatsola with Mike Adenuga as Chairman
Oriental Energy Resources
Usman Danburan, Jibril Mohammed Indimi with Senior Mohammed Indimi as Chairman
Cavendish Petroleum Nig. Ltd
Gambo Gubio with Mai Deribe as Chairman
Allied Energy Resources Nig. Ltd
OPL 120 & 121
Mickey Lawal as Director with Kase Lawal as Chairman
Adekunle Olumide, W. Bolaji, Florence D. Oluokun and Ayodeji Oluokun with M.A. Oluokun as Chairman
Summit Oil Nig. Limited
OPL 205 and 206
L.K.O Abiola, Radio Communications Nig. Ltd with M.K.O Abiola as Chairman
Crownwell Petroleum Ltd
OPL 305 AND 306
S.K Adejumo with Sair Kuashi as Chairman
Famfa Oil Ltd
OPL 216 (OML 127)
Folorunso Alakija wit Modupe Alakija as Chairman
OPL 114, 239, 234, 231
1999, 2008, 2008, 2007
F.A. Agama with O.B. Lulu Briggs as Chairman
Yinka Folawiyo Pet. Company
S.T. Folawiyo, T.B Folawiyo with W.I Folawiyo as Chairman
Zebbra Energy Limited
S.A. Oloko, Boni Madubunyi, Zimako O. Zimako with A.B.C. Orjiako as Chairman
Oil and Gas Limited
OPL 249 and 140
M.O. I drisu with Reggie Uduhim as Chairman
Continental Oil and Gas Limited
Agbolade Paddy, Subair Shefiu with Mike Adenuga as Chairman
Emerald Energy Resources
J.O. Amaefule, P.L. Caldwell, A.C. Uzoigwe, Amos NUR, C.N. Chieri, Femi Akingbe, F.A. Njoku with Emmanuel Egbogah as Chairman
Oranto Petr. Limited
Arthur Eze as Chairman
Dajo Oil Limited
R.B. Domingo, M.O. Domingo, U.R. Domingo with Domingo Obande as Chairman
Dan Etete as Chairman
OPL 915, 916
N. Nwawka with Emeka Anyaoku as Chairman
Sahara Energy Exploration
OPL 284, 228, 332
Buba Lawal, Cole Tonye, Odunsi Ade as Diectors
Enageed Resources Limited
Buba Lawal, Cole Tonye, Odunsi Ade as Diectors
OPL 4, 38, 41
A.B.C. Orjiako and Austin Avuru
Ekcrest E & P Limited
Emeka Offor as Chairman
O.A Azazi as Chairman
Amesi Azudialu, John Umeh, Nnenna Obijesi
Niger Delta Western
Olayiwola Fatona, David Richards, P.O. Balogun, T. Omisore
Jim Ovia, Tony Elumelu, Femi Otedola, Funso Lawal, Jacob Ajekigbe, Tony Ezenna, Ndi Onyiuke Okereke, Fola Adeola and Nicholas Okoye
Starcrest, Cross River Energy & NPDC
Emeka Offor, Chris Garuba
Emeka Offor, Gidado Idris, Yzoni Yaw
South Atlantic (SAPETRO)
OPL 264 (130)
Miguel Guerrero, Joy Ikiebe, Guerrrero, with T.Y. Danjuma as Chairman
OPL 278, 236
Magoro, J.A. Tinubu, O. Boyo, M.O. Osunsanya, O. Adeyemo, O. Akpata, Oba Gbadebo, A. Peppe and Appiah Korang
Albert Esiri, Ifeoma Esiri
Gbenga Olawapo, Adekunle Akintola, Ibukun Olawepo, Rachael Akintola
OPL 98, 275
F.A. Fadeyi, M.D. Yuduf, S.D. Adeniyi
Arumeni-Ikhide Joseph, Okey Nzenwa, Abu Ibrahim
Afren Global Resources
OPL 907, 917
Rilwan Lukman, Osmah Shahenshah, Evert Jan Mulder, Peter Bingham, Guy Pass, Bet Cooper, Constantine, Egbert Imomoh
Centrica/CCC/All Bright Consortium
OPL 276, 283
Jake Mirica, John Sheers
Gas Transmission & Power Ltd
Ahmed Joda, Babangida Hassan Katsina, Makoji Aduku, Abubakar Joda
Global Energy Company Limited
S.A. Onabiyi, M.A. Koshoni, T.T. Anyansho, J.N. Obiago
New Nig. Devt. Company
OPL 733,809, 810,722
Northern State governors
Tenoil Petroleum Energy Services
Jim Ovia, Tony Elumelu, Femi Otedola, Funso Lawal, Jacob Ajekigbe, Tony Ezenna, Ndi Onyiuke Okereke, Fola Adeola, Nicholas Okoye, with Elumelu as Chairman
Marginal Fields Operators
Name of Company
Year of Award
Names of Directors/Shareholders
Niger Delta Company
Ogbele (OML 54)
Aret Adams, Uduimo Itsueli, Sammy Olagbaju, David Richard, Udi Ibru and Fatona Layi
Prime Petr. Ltd & Suffolk Petr
Asaramaroru (OML 11)
MacPepple Henry, Macpepple Joy, Macpepple Emmanuel, Macpepple Elfrida and Macpepple Victoria
Owok (OML 67), Ebok
Alhaji Indimi, Usman Danburran
Stubb Creek Field (OML 13/14
Amana Nkoyo, Mianaekere Nelson, Abubakar Hayatou, Mboho Emmanuel, Ekpo Akpan, Inyang Etim (Akwa Ibom Govt)
Eurafric Energy Limited
Dawes Island (OML 54)
Onoh Anthony, Onoh Christiana, Onoh Ngozi, George Udoekong, Nwauche Eastus
Pillar Oil Limited
Umusati/Igbuku (OML 56)
Onosode G.O, Fadahunsi O, Amakiri J., Hassan-Katsina Usman, Tonwe Basife, Obaseki Godwin, Akoyomare Ambrose, Fisher Abayomi, Anaekwena Anthony, Avuru Spencer, Onosode Spencer, Hassan-Babangida
Bayelsa Oil Company
Atala (OML 46)
Bayelsa Govt, Brigidi David, Alamieyesheiga Anitonbrapa, Ifimain Ekine, Jonathan Selereipre, Enddeley Francis, Chinwetelu Chris, Willians E.J., Aliyu Abubakar
Ekeh (OML 88)
Idau Sadiq, Jacobs Kayode, Enahoro Victor, Mohammed Aishatu, Tugger Yusuf, Okwuaive Iyabo, Sadare Raymond
Ogedeh (OML 90)
Adesemowo G.A, Bashir MM, Onumodu Soye, Akinro C.A, Malberbe T. Unejei T
Guarantee Petrr & Owena Oil
Ororo (OML 95)
Rufus Giwa, Ayodele Johnson, Fayose Abiodun, Unuigbe Odion, Omobomi Samuel, Rotimi Luyi, Adefarati Tunde, Duyie Korede, Ojo Segun, Ogedengbe Dele, Aidi Abass, Adegbonmire Wunmi, Amoye Mofisco, Ebiseni Sola, Oladunni Solomon, Agoi-George Segun, Akinruntan F.E, Hassan AlGazali, Eburajolo Victor, S.A. Ajayi
Platform Petroleum Limited
Egboma (OML 38)
Edmund Daukoru, Avuru Austin, Amachi Moshe, Adegoke Oluwafeyisola, Addo-Bayero Nasir, Ewendu Chidi
Akepo (OML 90)
Funso Lawal, Joda Abubakar, Harriman Hope, Odu Bunmi, Edohoeket Samuel, Yahaya Mohammed, Dada Nicholas, Yellowe Kenneth
Amoji (OML 56)
Akerele Chris, Mamman Samaila, Ihetu G.S. Braide Kombo, Banks Nigel, Clubb James, Uhuegbulem Ben, Baba Gana Abba
Millennium Oil and Gas
Oza (OML 11)
Ali Chris, Maseli John, Karrs Sastry, Shama Yogi, Igweze Emeka, Bashir Farouk
Ajapa (OML 90)
Ifejika Uju, Ifejika Emmanuel, Omu Paul, Otiji Igwe, Ikpeme Ita, Cardoso Tokie, Okonkwo Annie, Inua Mogaji, Mbanefo Louis, Ombu AVM, Horsfall A.K., Ukpong Uche, Ogoro Emomena, Ifejika E.I, Umar Alhaji, Ikpele A.O
Network E & P
Qua Iboe (OML 13)
Ajose Adeogun Ladi, Adesomoju Akin Alex -Duduyemi, Adewusi Adebowale, Ifode Yeletide, Gasau Ismaila Musa, John Etop, Olagbede Olufemi
Waltersmith Petroman & Morris Petr.
Ibigwe (OML 16)
Isa Abdulrasak, Saleh Danjuma, Utomvie Nyingi, Ita Princess, Okoli Ndubuisi, Kakpovie Anthony, Okpala Eugene, Idrisu Mammudu, Idrisu Lawal, Isokrari Ombo, Nzeakor Nick, Abdulsalami Abdul, Nwabudo Ignatius
Midwestern Oil & Gas & Suntrust Oil
Umsadege (OML 56 )
Igbokwe Ken, Afejuku Anthony, Daultry Akpeti, Sagoe Kweku-Mensah, Gambo Lawan, Oshevire William, Mordi Sylvanus, Maidoh Daniel, Fatayi-Williams Babatunde, Mohammed Waziri, Emerhor Otega, Dublin-Green Winston, Mohammed Abubakar, Oduah Stella, Okafor Ugo and Baba-Ahmed Mouftah
Independent Energy Limited
Ofa (OML 30)
Ikelionwu Emeka, Ohunmwangho Steve, Yar'Adua Murtala, Okudu Anthony, Bello Shamsudeen, Obaoye Michael, Monanuma
KE (OML 55)
Amachree Sokeiprim, Ungbuku K.D., Bakut J.I, Chaff Kabiru
Associated Oil & Dansaki Petroleum
Tom Shot Bank (OML 14)
Machunga Laraba, Gwadah Bitus, Balat Isaiah, Uzor Azuka, Ibok Udo, Uzoechi Isaac, Kadiri Samuel, Afolabi Aderenlr, Yinka Aina
Frontier Oil Limited
Uquo (OML 13)
Dada Thomas, Lolomari Odoliyi, Kolade Victor, Yisa Solomon, Nwasikeobi, Alechenu Emmanuel, Bello Falalu
Energia Limited & Oando Prod. Devt Ltd
Ebendo/Obodeti (OML 56)
Horsfall A.U, Aribeana Stephen, Shawley Cooker, Bello Lawal, Ene Emeka, Afolabi Ade, Coker Sam, Esiri Albert, Dibiaezue Ifeoma, Hammad Charles, Macgregor Olushola, Oando
Goland Petroleum Devt. Company
Oriri (OML 88)
Kingsley Ngelale, Mogaji Gambo, Slako Johnson, Anthony Dotimi
Excel Exploration & Production
Eremor (OML 46)
Abiodun Awosika as shareholder
Sahara Energy & African Oil Ltd.
Tsekelewu (OML 40)
Baba Lawal, Cole Tonye, Odunsi Ade, Adeniji Titi, Akinla Ladipo, Bently John, Ciroma Musa, Odili Obi F., Du-Frayer
Green Energy International Ltd
A.A. Olojede as shareholder
All Grace Energy
Ubima (OML 46)
Adeola Adenikinju, Sola Alabi
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