Chevron denies alleged transfer of interest in OML 11

Chevron denies alleged transfer of interest in OML 11


Chevron Nigeria Limited (CNL), Operator of the Joint Venture with the Nigeria National Petroleum Corporation (NNPC), has denied the alleged transfer of its interest in Oil Mining Lease 11 (OML) in Yorla Field, eastern Niger Delta to an investor, The Guardian reports.

Its General Manager, Policy, Government and Public Affairs, Esimaje Brikinn, said in a statement yesterday that Chevron does not have any equity in OML 11 as alleged in a recent report. A group, the Ken Saro Wiwa Associates (KSWA), had alleged a plot by a minister “to unilaterally transfer CNL’s interest in the Yorla Oil Field (OML 11–Ogoni Fields) to an anonymous company in which he has interest.”

But Brikinn said CNL has 40 per cent equity in OML 51 in Rivers State in which the Yorla South Field is located. He disclosed that Chevron was not soliciting for expressions of interest (EoIs) for any of its assets, adding: “While CNL regularly reviews its asset portfolio to seek opportunities for optimising its businesses, any decision on acquisitions or divestitures will be made after following its established processes.”

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