Fears hover over Nigerian licensing

摘要

Concern is returning about licensing in Nigeria as a little known company is negotiating in private for a series of oil blocks that have only just been taken back by this government after controversially being awarded by the previous one under similar circumstances. Back in 2011 Atlantic Energy signed a contract with the state oil company's development arm NPDC to fund and operate the latter's 55% in four blocks on its behalf. This allowed the private firm to earn up to 70% of profits from former Shell blocks OM Ls 26,30,34and42.