The Kaztec/Salvic consortium stated that the Department of Petroleum Resources (DPR) deserved to be commended for doing due diligence and following relevant laws in making them the choice operators of the assets.
Senator Magnus Abe
The lack of investment in the oil field granted to Addax is said to have caused a great loss to the economy, Director, Nigerian National Petroleum Corporation (NNPC), Senator Magnus Abe, has said.
Abe, who was reacting to an online story, said the Department of Petroleum Resources (DPR) was right in its recommendation of a revocation of the mining leases issued to Addax in the national interest.
In the said online story, entitled: “Petroleum Minister, cronies plot kangaroo NNPC report to divert $650 million oil contracts to themselves,” Abe, said the report, was “designed to create the impression of a major scandal and arm twist the Federal Government in the matter concerning the recent attempt to revoke some oil blocks from a foreign company.”
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New operating consortium promises Nigeria better value from 4 oil assets
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By Innocent Anaba
Kaztec Engineering Limited and Salvic Petroleum Resources consortium have promised to offer Nigeria better value in terms of increased revenue, local content boost, and more employment opportunity as they take over the operatorship of the Oil Mining Leases (OMLs) 123, 124, 126 and 137 previously operated by Addax Petroleum.
The new partners also disclosed that they have commenced engagement with Addax to ensure a smooth and amicable transition of operations at the assets.
The Kaztec/Salvic consortium said that the Department of Petroleum Resources, DPR, deserved to be commended for doing due diligence and following relevant laws in making them the choice operators of the assets.
ADDAX OML LICENSE IMPASSE: DPR’s action will boost government revenue – Group
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In the face of the seeming uncertainty surrounding the revocation, restoration of Addax OML License, and the report of the Committee set up by President Muhammadu Buhari on the issue, which indicted Addax for wasting millions of dollars, a Civil Society Organisation, Good Governance Advocates has commended the Directorate of Petroleum Resources (DPR) for taking concrete steps to boost the revenue accruing to the Government in underperforming assets.
In a statement signed by its National President, Kema Maxwell, it noted that in choosing a new operating consortium to manage the OMLs, DPR carefully opted for an operator that is familiar with the revoked assets, and saving the country a huge economic loss.