…Calls for more synergy in developing the state’s Oil and Gas sector
He disclosed this yesterday, 12th August through a telephone conversation with our reporter on the issue of Presidential approval on the ExxonMobil and Seplat Energy’s deal.
Mr. Asuquo who gave the State Governor a pat on the back said : ” That Gov. Emmanuel would have taken a share that would have enabled him pocket over $200M to compromise but as an Upright leader, he refused and placed a caveat to such fraud”. while asserting that he was proud having voted the former banker into the saddle of the leadership of the State in 2015 and 2019 respectively.
A reputable Akwa Ibom born International Consultant in the oil and gas sector, Mr Mkposong Asuquo has commended the State Governor, Mr. Udom Emmanuel for his firm disposition as a leader of proven integrity, who has not joined forces to mortgage the future of the State for peanuts through the transfer of the foremost Exxon Mobil’s shares to Seplat Offshore Energy Limited.
Mkposong maintained that Akwa Ibom as a component State has the contractual right that offers her the right of first refusal, therefore, he was ready to envelope his contracting skills and prowess to ensure that the State produces a consortium that can purchase the assets from ExxonMobil and turn the State into an Exploration and Production (E & P) State.
” We can do this and more rather than sitting on the fence with a desire to get peanuts. We just have to encourage the Governor.
“Whether we wish to have an interface with SEPLAT or any of the indigenous IOC’s in future, it’s not a problem. For now, we must resist peanuts and join hands with the Governor at the dialogue table, geared towards bringing sustainable development and prosperity to the State” he said.
Mkposong Asuquo, a fellow of the Chartered institute of Management Consultants, Member, American Chemical Society and the Chief Operating Officer of Inter Africa Global Consultants Limited further expressed bitterness over what he termed as ‘a less show of interest in oil and gas politics by Akwa Ibom people’, asking for enormous platform
In encouraging youths to be more particular in the Petroluem politics, adding that Akwa Ibom State is one of the largest oil and gas producer in the country. He further described the ill advised and contemptuous process of the acquisition of the ExxonMobil’s 40% shares by Seplat Energy as barbaric and unacceptable.
Asuquo who thanked the President and the The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Engr Gbenga Komolafe, for their quick reversal on the decision to assent to the transfer of ExxonMobil shares to Seplat Energy Offshore Limited was optimistic that in no short time, people Of Akwa Ibom would come to understand the politics of petroleum and take a leaf from the Middle East which is thriving so much to engage in vital resources, strategic calculations, prominent emphasis on the oil and gas exploration, production, refining, marketing and exportation of petroleum products due to their indept understanding of how it works.
The oil and gas consultant whose intellectual property in oil and gas business is top notch, having put several years and worked within oil and gas sector in the country including QPR in NNPC said that there is a mechanism for the joint venture operations with NNPC at 60% and ExxonMobil at 40% including a memorandum with the State Government who are the hosts to the assets, explaining that a partnership or marriage which span for over 60 years with less attention given to the owners of resources; the People
Of the State, despite the fact that the company (ExxonMobil) generated upto $40 billion of cash flow from operations activities, the highest level since 2012, more than covering capital investment, debt reduction, and dividend, noting that the company only at the closure of their investment and business feels to turn into mafia and sell the state’s resources and their asset to a South Eastern concern, describing such act as an insult. “ I mean, We got into a business relationship that lasted for over 69 years and the marriage witnessed the slow poisoning of the waters of this State and the destruction of vegetation and agricultural land by oil spills which occur during petroleum operations.since the inception of the oil industry in Nigeria, many years ago, there has been no concerned and effective effort on the part of the government, let alone the oil operators, to control environmental problems associated with the industry and after these loss of environmental and aquatic life, you want to disband the memorandum quietly.
He maintained that he has conducted the CPR of those assets and the wealth is not what the State should throw to those who bribed people within the corridors of power upto 100M USD just to impoverish the people of Akwa Ibom State, hence, the call on conceptive and collaborative effort from all and sundry that will push for more synergy in developing the state’s Oil and Gas sector.