Controversial OML 30: NUPENG, stakeholders fault choice of Heritage Oil

All has certainly not been heard on the award of a 45 per cent equity in one of Nigeria’s more lucrative oil blocks, OML 30, to Heritage Oil, a relatively unknown British-based firm whose promoter and CEO, Tony Buckingham, is reputed to have bankrolled military coups in African states. Isaac Aberarem, Secretary General of the National Union of Petroleum and Natural Gas Workers (NUPENG), said any “competitive bidding process that led to the emergence of a disreputable firm should be further investigated.” “We have to re-examine how such companies and persons emerged,” Aberarem said on the award of the oil block to Buckingham’s Heritage Oil.

“If it is discovered that the process was fraudulent then we have to resist it. NUPENG will even be prepared to make recommendations for a change. Nigeria deserves the best,” he added in a telephone interview with Daily Sun. Buckingham is partnering with Kola Karim, a Nigerian and CEO of Shoreline Energy Limited, to acquire the 45 per cent equity hitherto held by Anglo/Dutch firm, Shell Petroleum under a Joint Venture (JV) deal that leaves the balance 55 per cent equity in the hands of the Nigerian Petroleum Development Company (NPDC). Read more

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