Civil Society Network Against Corruption (CSNAC) is a coalition of over hundred and fifty Anti-corruption organizations whose primary aim is to constructively combat corruption vigorously and to ensure the effective monitoring of the various Anti-graft agencies in the fight against corruption and contribute towards the enthronement of transparency, accountability, probity and total commitment in the fight to eradicate corruption in Nigeria.
It was widely reported in the media sometime ago that the Federal Government had renewed three Oil Mining Leases (OMLs 67, 68 & 70) for Mobil Producing Nigeria. However, the details of the terms of the renewed leases were not disclosed to the press.
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.
But 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.
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.
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, we are compelled to request that you 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.
Whilst we await your expeditious consideration of the issue raised in this correspondence, please accept the assurances of our esteemed regards.