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N-Delta stakeholders back indigenous firm, Chappal petroleum on ExxonMobil’s assets acquisition

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By Timi Black
Chief Correspondent

Following the planned exit of ExxonMobil in Nigeria, some stakeholders from oil and gas producing communities in Niger Delta region have thrown their weight behind an indigenous company, Chappal Petroleum Development Company to acquire assets to be divested by ExxonMobil in Nigeria.

It was learnt the stakeholders who supported the move were members of a pro-Niger Delta oil and gas producing communities advocacy group, known as Niger Delta Oil Communities Agenda NIDOCA.

The Director of Publicity, Pastor Emma Akpovoka, in a statement on Tuesday at Asaba, Delta state said: ” we are supporting Chappal Petroleum Development Company, being an indigenous company to acquire the assets to be divested by ExxonMobil Nigeria, which will enable Chappal Petroleum Development Company to exploit its potentials in the oil industry”.

Acccording to the group, the proposed sale or divestment of ExxonMobil’s assets in Nigeria should offer opportunities to more indigenous companies and investors in the oil industry including Chappal Petroleum Development Company.

It was gathered that the assets to be divested by ExxonMobil Nigeria included its 40 percent equity shares in Qua Iboe fields and pipelines in oil mining leases (OMLs) 67, 68, 70 and 104.

Congress report that Chappal Petroleum Development Company, and foreign financial partners, a UK based Cairn Energy are determined to win and acquire the assets.

The group added: “We however, express optimism and confidence on Chappal Petroleum Development Company, being chaired by prominent industry player, Niger Delta illustrous leader and entrepreneur, Austin Avuru to acquire the ExxonMobil assets in Nigeria”.

Austin Avuru, was the pioneer and immediate past Managing Director/Chief Executive Officer of Seplat Petroleum Development Company Plc, a Company he co-founded in 2009.

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