The Civil Society Network Against Corruption (CSNAC), a coalition of over 150 anti-corruption organisations, has petitioned the Economic and Financial Crimes Commission (EFCC), alleging lack of transparency in the renewed three Oil Mining Leases (OMLs 67, 68 & 70) for Mobil Producing Nigeria.

CSNAC said in the petition dated 29th June, 2015 and signed by its Chairman, Olanrewaju Suraj, “It would be recalled that based on the valuation conducted by the Ministry of Petroleum Resources, Mobil and the Nigeria National Petroleum Corporation (NNPC) as equity holders, were required to pay $6.375 billion as 100% of the reserve fee. Mobil’s 40% share in the lease was fixed at $2.55 billion and a commitment to invest additional sum of $1.2 billion in a refinery and gas infrastructure for the domestic market.”

The petition recalled that “Mobil rejected the said terms and paid $600 million for the renewal of the three oil blocks which have a combined output of 580,000 barrels of crude oil per day. Curiously, the payment was accepted by the then Minister of State in the Ministry of Petroleum Resources, Mr. Odein Ajumogobia, who purportedly signed the deal.”

It added: “However, the predecessor of the erstwhile Minister of Petroleum Resources refused to endorse this questionable and shady transaction. The said leases were however, renewed for 20 years by the erstwhile Minister of Petroleum Resources on behalf of the Government of the Federation.”

CSNAC “in the light of the foregoing, and in view of the demand of the Nigerian people for the transparent management of the oil and gas industry” requested EFCC to “investigate this act of economic sabotage fraud regarding the renewal of the said three Oil Mining Leases (OMLs 67, 68 & 70) for Mobil Producing Nigeria. More so, that a Chinese company had offered to pay the difference of $4.85 billion for 30% equity interest in the NNPC-Mobil Joint Venture.”

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