Ownership of OPLs 276 and 283 Clarified

10 Apr 2013

Views: 6,461

Font Size: a / A

Ibenanowei of Bomo Kingdom in Bayelsa State, King Joshua Igbuguru

By Ejiofor Alike

Fresh facts have emerged on the real owners of Centrica Resources Nigeria Limited, CCC Energy Nigeria Limited and Albrightwaves Petroleum Development Limited, which were awarded Oil Prospecting Leases (OPLs) 276 and 283, by the federal government during the Oil Blocks Bidding Round held on August 25 and 26, 2005.

A legal practitioner and shareholder in, one the three marginal fields operators, Mr. Nathan Tengi, told THISDAY that under the Production Sharing Contract (PSC) executed on February 16, 2006, Centrica Resources Nigeria Limited has 60 per cent interest in 0PL 276, while CCC Energy Nigeria Limited and Albrightwaves Petroleum Development Limited have 30 per cent and 10 per cent equity respectively in the oil block.

He also clarified that Jake Mirica and John Sheers were not shareholders/Directors of Albrightwaves Petroleum Development Limited.

According to him, Albrightwaves Petroleum Development Limited is a Special Purposes Vehicle (SPV) consisting of two incorporated companies -  Albright Upstream Limited, which has 60 per cent equity in Alrightwaves Petroleum Development Limited and 7 Waves Petroleum Limited, which has 40 per cent equity in Albrightwaves Petroleum Development Limited.

Tengi noted that the real owners of the 10 per cent stake in OPL 276 awarded to Albrightwaves Petroleum Development Limited were the shareholders of Albright Upstream Ltd.

He identified the shareholders of Albright Upstream Limited as himself with 2,500,000 shares; Wole Omisade, 1,500,000 shares; Folake Khusamotu, 500,000 shares and Mrs. Kemi Alokolaro, formerly Miss Kemi Sijuade, who has 500,000 shares.

The legal practitioner also listed the shareholders of 7 Waves Petroleum Limited as the Ibenanowei of Bomo Kingdom in Bayelsa State, King Joshua Igbuguru, who has 300,000 shares; Mr. Stanley Agba, 100,000 shares and Mr. Ogbuku Samuel, 400, 000 shares.

He stated that both Mr. Chukwuman Igelenyah and Mr. Osike James had no shares in 7 Waves Petroleum Limited.

On the ownership status of OPL 283, Tengi also clarified that the oil block was not awarded to the Centrica/CCC/Albrightwaves Consortium, but to the Centrica/CCC/Rayflosh Consortium.

OPLs 276 and 283 are among the 92 OPLs awarded to local companies, which are yet to come on stream.

Tags: News, Nigeria, Featured, CCC, OPLs

Comments: 0


Add your comment

Please leave your comment below. Your name will appear next to your comment. We'll also keep you updated by email whenever someone else comments on this page. Your comment will appear on this page once it has been approved by a moderator.

comments powered by Disqus