Nigeria Oil Block Ownership: North Fights Back – Whistleblowers Monitors

Mar. 13, 2013



1. Alhaji W.I. Folawiyo – Yinka Folawiyo Petroleum Limited

Operator of OML 113

2. Emeka Offor, stakeholder – Addax Petroleum

Operator of OPL 291

OPL 291 sold by Starcrest (owned by Emeka Offor) to Addax Petroleum. who still has a stake in Addax operations in Nigeria

3. Mike Adenuga – Conoil

Operator of 6 Oil Blocks. Oldest indigenous oil exploration industry in Nigeria

The 59-year-old Mike Adenuga has a reputation as a reclusive tycoon, but his company Conoil Producing was the first Nigerian company to strike oil in commercial quantities in the early 1990’s. It is now the country’s largest oil exploration firm, and Adenuga has a net worth of $4.3 billion. His other business interests include Globacom, the country’s second largest mobile telecom operator. Another tycoon to have hit big through links with a Nigerian president, in this case, Ibrahim Babangida, he made his first million at the age of 26 selling lace and distributing soft drinks.

4. Prince Arthur Eze (Orient Petroleum)

Prince Arthur Eze is the Chairman and CEO of Atlas Oranto Petroleum International Limited, as well as holding positions on various other boards in different sectors across Nigeria. His company has secured significant upstream positions in frontier plays in Nigeria, Sierra Leone, Liberia, Togo, Ivory Coast, Chad, Cameroon and Equatorial Guinea.

Oranto Petroleum Ltd. provides oil and gas exploration and production services. The company operates OPL 320, OPL 293, CI-205, CI-206, LB-12, and Sao Tome oil bloc. The company is based in Nigeria. Oranto Petroleum Ltd. operates as a subsidiary of Atlas Petroleum International Ltd.

His company has various technical partners, ranging from Roc Oil, Pioneer Natural Resources of the USA, Canoxy, Transworld of the USA, LukOil of Russia, Tetra, Noble, Kosmos Energy of the USA, Petronas of Malaysia, DNO of Norway, TransAtlantic Petroleum of the USA and Canada’s Nexen. He has been active behind the scenes on the political stage since the early 1990s.

5. ABC Orjiakor (Seplat Petroleum)

A trained surgeon, Orjiakor has now worked in the oil and gas sector for over 25 years.

Seplat Petroleum Development Company Limited, formed by two Nigerian E P companies viz; Shebah E P and Platform Petroleum, was registered in 2009 as a Special Purpose Vehicle (SPV) for the acquisition of 45% Interest in Oil Mining Licenses 4, 38 and 41.
Maurel Prom, a French Independent energy company, subsequently acquired a 45% equity in SEPLAT while Shebah E &P Platform retained 55% to maintain SEPLAT’s indigenous status. Maurel Prom has a track record in E P Operations in Gabon, Republic of Congo, Tanzania and Colombia.

But Senator Ita Enang gave the of Mallam (Prince) Sanusi Lamido- a major shareholder and director – instead of ABC Orjiakor.

6. Phillip Ihenacho (Seven Energy)

Executive Chairman of Seven Energy, Ihenacho is also the co-founder of investment firm Amaya Capital Partners. even Energy is a private Company with headquarters in Lagos and London. In Nigeria, the Company operates through its wholly-owned and principal subsidiaries, Septa Energy Nigeria and Accugas.

Septa’s upstream interests are located onshore in the Niger Delta; Stubb Creek (OPL 276), Matsogo (OML56) and production interests in OML 4, 38 and 41 through a strategic alliance and service contract with NPDC. These assets sit within two core areas located in the South East and North West Niger Delta.

7. Folorunsho Alakija is the founder and owner of Famfa Oil, which owns a 60 per cent interest in OML 127, an offshore oil field that produces roughly 200,000 barrels of oil per day and is worth an estimated $6.44 billion.

8. Jide Omokore, chairman Atlantic Energy Drilling Concept Limited. For paying to the Nigerian Petroleum Development Company, a fully owned subsidiary of the Nigerian National Petroleum Company an initial “entrance fee” of slightly more than $50 million for each of the two oil fields, Atlantic now has effective control of the NPDC’s 55 percent stake in the oil block. These are rick blocks known in the industry as OML 30 and 34.

Shell, the giant multinational that produces around 50 percent of all of Nigeria’s crude, is the beneficial owner of the remaining 45 percent of the blocks. Shell had subjected its share of these oil blocks to an open and transparent competitive bidding process, fetching up to $1.3 billion in a single field.

9. Adewale Tinubu Oando
Oando holds interests (directly and indirectly) in 15 licenses for the exploration, development and production of oil and gas assets located onshore, swamp, and offshore, our primary task is to harness optimally the potentials of our existing portfolio:

Oando has prolific 2P reserves and 2C resources from a portfolio of Producing,


Oando Plc holds interests in 4 licenses. It has a 40% and 95% Working interest in OML 13(Qua Iboe) and OPL 236 respectively which are currently near term and exploratory assets.

The company is also a Nigerian Content Partner with AGIP Oil on OPL 282.


Following the Reverse Takeover of Exile Resources, Oando Plc holds 94.6% in Oando Energy Resources that is listed on the Toronto Stock Exchange. Oando Energy Resources holds interests in 11 licenses.
10. Tonye Cole (Sahara Energy)

Cole is the Managing Director of Sahara Energy Resource Limited, which he co-founded in 1996 with his friends Tope Shonubi and Ade Odunsi. Sahara Energy started out as an oil and gas company whose core business at the time was the trading of excess fuel oil from the Port Harcourt and Warri refineries. It later moved away from being a middleman to become an established trading house diversifying into storage depots and vessel ownership as well as building depots in Lagos, Onne and Abuja with a combined capacity of 55,000 metric tonnes and a fleet of five vessels moving products across West Africa. Today, Sahara Energy is a major employer of labour with staff strength of just over 300 people.

Sahara Energy Field Limited (SEFL) is the upstream exploration and production (E&P) arm of Sahara group. Its core business is to explore and develop oil and gas assets in established and emerging frontiers.

Since it began its operations in 2004, the company has succeeded in establishing a firm foundation in selected West African basin with interests in the following assets either as operator or partner:

OPL 274 Western onshore Niger Delta (100%*)
OPL 286 in Deep Water Nigeria (26%*)
OPL 284 in Deep Water Nigeria (45%*)
Tsekelewu marginal field (OML 40) (51%*)
Sahara’s Interest;
SEFL executed a seismic agreement with GNPC of Ghana and has exercised its right of first refusal on the ECTP Block B1 after acquiring 1,250 sq km of 3D seismic
In 2010, SEFL entered into a 50/50 JV with PGS/Azimuth which gives us access to the largest seismic database across the west of Africa (from Mauritania to Nambia)