NNPC, Partners Seal Deal on Disputed OML 130, Unlock $510m Gas Revenue Peter Uzoho The Nigerian National Petroleum Corporation (NNPC) yesterday said it had reached an agreement with its partners, China National Offshore Oil Company (CNOOC) and South Atlantic
Petroleum (SAPETROL), to settle all outstanding issues surrounding the development of Oil Mining Lease (OML) 130. The corporation stated that the move was part of efforts to meet the target of three million barrels of crude oil output per day and unlock
gas revenues to the tune of about $225 million in the short term, and $510 million in the long run. Speaking at the signing of the Head of Terms (HoT) agreement with the partners at the NNPC Towers, Abuja, Group Managing Director of
NNPC, Mr Mele Kyari, said the deal was in line with the corporation’s PSC Dispute Resolution and Renewal Strategy of 2017. Kyari said with the arrangement, an out of court settlement of all disputes around the 1993 Production Sharing Contracts
(PSC) and agreement on terms for their renewal had now been sealed. A press release by NNPC’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, explained that the dispute had arisen from recognition of certain
“cost and discordant” interpretation of the fiscal terms of the PSC by NNPC and the contracting parties. Kyari stated, “With the resolution and signing of the Head of Terms (HoT) Continued on page 5
N'Assembly: CAMA Will Ensure Corporate Accountability, Ease of Doing Business…Page 56 Sunday 9 August, 2020 Vol 25. No 9253
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Ize-Iyamu a Suspect, Not Convict, Presidency Tells PDP Challenges opposition to withdraw nomination to Bauchi and Adamawa govs, others who were on trial when they contested Omololu Ogunmade and Chuks Okocha in Abuja The presidency, yesterday, described the Edo State
governorship candidate of the All Progressives Congress (APC), Pastor Osagie IzeIyamu, as a mere suspect in a corruption case who was never
convicted. The clarification was made in reaction to the Peoples Democratic Party (PDP), which condemned the endorsement of Ize-Iyamu
by President Muhammadu Buhari on Friday, saying he is standing trial for alleged looting of N700 million.. The presidency, however,
maintained that though Buhari saw corruption in his government as well as the previous administrations, he remained steadfast in his
determination to fight sleaze. But PDP said it was a somersault for a government Continued on page 5
In Show of Strength, APC Kicks Off Edo’s Campaign 11 Govs, deputy senate president, ministers, others in Benin for Ize-Iyamu Oba Ewuare II commends Buhari, maintains neutrality PDP vows to retain Edo as Shaibu, Oshiomhole trade tackles
Iyobosa Uwugiaren and Adibe Emenyonu in Benin City
In an apparent show of strength, sculpted to intimidate the opposition, the leadership of the All Progressives Congress (APC), yesterday, paraded the crème of its members, both in government and in the party to kick off the governorship campaign of its candidate, Pastor Osagie Ize-Iyamu in Benin, the Edo State capital. The list of top APC stalwarts, who graced the campaign kick-off was staggering, including but not limited to no fewer than 11 governors, Deputy Senate President, Ovie Omo-Agege, members of the national and state assemblies
as well as ministers amongst other. Impressed by the presence of the August visitors in the ancient city was the Oba of Benin, Ewuare II, who commended President Muhammadu Buhari for supporting the candidate of his party a day earlier, but was quick to reiterate the palace’s neutrality to politics. This, notwithstanding, the leadership of the Peoples Democratic Party (PDP) has refused to be cowered by the mammoth turnout of APC supporters at the party’s campaign kick-off, saying it was determined to retain the state during the September 19 election. Continued on page 5
SEEKING OBA'S BLESSING FOR IZE-IYAMU... L-R: Lagos State Governor, Babajide Sanwo-Olu; Kaduna State Governor, Nasiru el-rufai; former National Chairman of APC, Adams Oshiomhole and APC Governorship Candidate, Pastor Osagie Ize-Iyamu at the Oba Of Benin Palace during the flag off of APC governorship campaign rally in Benin City...yesterday
Kashamu Dies of COVID-19, He Escaped Justice but Couldn’t Evade Death , Says Obasanjo...Page 10