NIGERIA: Corporation opens up on failed $25m deal

21102015C NNPC

The Nigerian National Petroleum Corporation (NNPC) has denied any involvement in a failed oil block deal with an Indian firm, Oil and Natural Gas Corp-Mittal Energy Limited, worth $25m.

The Group General Manager, Group Public Affairs Division, Mr. Ohi Alegbe, in a statement said “Our attention has been drawn to the repeated reports linking the Nigerian National Petroleum Corporation, NNPC, with the failed attempt by a certain Indian company, Oil and Natural Gas Corp-Mittal Energy Limited, OMEL, to acquire an oil block during the 2006/2007 oil bid round and the consequent failure to get a refund of the funds it committed to the deal.

“We wish to clarify that NNPC is not the statutory body saddled with the responsibility of organizing bid rounds and so could not have received the alleged amount of $25 million or any payment from OMEL for the transaction.

“We find the deliberate attempt to drag NNPC into the various allegations surrounding the transaction as mischievous and unfortunate.

“We urge those who are interested in the story to seek clarification with the relevant agencies responsible for conducting bid rounds and to whom OMEL may have paid the alleged fee.”

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