Nigeria: Prince Arthur Eze Denies Dealings With Oilbank International And ADM Energy

The Executive Chairman of Atlas Petroleum International and Oranto Petroleum in the Republic of Nigeria, Prince Arthur Eze, has categorically denied recent news report of his involvement in a partnership with ADM Energy on the ongoing Marginal Fields Bidding Round in Nigeria.

Mr Eze accused Oilbank International of using his name and reputation to discuss business with people and companies, especially for the ongoing marginal oilfields bidding round in Nigeria.

On August 3rd, 2020, ADM Energy announced its successful pre-qualification in the Nigerian Government’s 2020 Marginal Field Bid Round, as the exclusive technical partner of Nigerian company Oilbank International.

But in a statement issued by Atlas Petroleum International, Mr Eze denied having any dealings with Oilbank, alleging that his name was being fraudulently used by the firm.

“The misuse of my name and reputation is a blatant fraud. I am not involved in any shape or form in the management of Oilbank International, nor do I serve as its Chairman of the Board.

Consequently, neither I nor my companies Atlas Petroleum International and Oranto Petroleum have ever had in any way, shape or form, any discussion about a potential partnership with ADM Energy,” declared Prince Arthur Eze.

While the Nigerian Marginal Fields Bidding Round is expected to attract a lot of international partnerships to inject necessary capital and technology into the country’s marginal acreages, it is the duty of foreign partners to do their due diligence before partnering with local entities.

“If Atlas Petroleum International wants to acquire and operate a marginal field, it can do so on its own rights and does not need partnership with small companies like ADM Energy or Oilbank International to pursue such an opportunity. This is further demonstration that all stakeholders must adhere to President Muhammadu Buhari’s call to end corruption and promote sound and transparent business practices and corporate governance standards across the energy sector,” concluded Prince Arthur Eze.

Source:www.energynewsafrica.com