NNPC Reconciles Indigenous Oil Firms

The Nigerian National Petroleum Corporation (NNPC), has resolved the dispute between Belema Oil and SEPLAT.
The two indigenous oil companies have been locked in a legal battle over the ownership of OML 55, located in Rivers State.
An NNPC representative, Mr Marshall Ogbonna, told newsmen after inaugurating an asset management team last week to oversee the operation of OML 55.
The resolution would contribute to the growth in the oil industry.
“Currently the asset is producing 12,000 barrels of crude oil a day.
“And now that we are in a kind of recession, if this asset is supported by NNPC and also by the two partners they are going to add to the bottomline of the federal government and improve its revenue”, he said.
Managing Director of Belema Oil, Boma Brown also spoke with newsmen at the event.
He acknowledge the cooperation between the parties concerned and the community people in the process.
“In the decision process, you can see the passion in terms of the cooperation from the communities.
“The communities are now coming to the table for discussion so the old issue about representation right from the concept stage, the communities are represented”, he said.
The Belema oil boss disclosed that most of the players that have had experience know the limitations of the multinationals, adding that as indigenous companies, they will interact with members of the communities concerned.
“I am not a stranger, I will go back to the community, it’s not like I am going to a foreign land and the unique thing we are bringing in is representation in the decision making process in the oil and gas company”, he said.
The Tide reports that the Chief Executive Officer of SEPLAT, Mr Austine Aboro promised that SEPLAT would not meddle in community affairs, even as he promised equal representation for everyone.
The Tide further reports that the founder of Belema Oil, Mr Jackrich Stein, representatives of NNPC and National Petroleum Investment Management Service were part of the inauguration.