OML30: We inherited huge debts, but paying verified local contractors- Heritage

The management of Heritage Energy Operational Services Limited, HEOSL, has


By: | on | 332 views
Topic: News

NNPC Monthly oil and gas report january 2020
OML30: We inherited huge debts, but paying verified local contractors- Heritage
Naeem-Atiq Sadiq

The management of Heritage Energy Operational Services Limited, HEOSL, has clarified that it has been paying its local contractors whose jobs had been verified, while some others were being investigated.

In a press statement on Monday, the firm said the claim by Ijaw Youth Council IYC, of Heritage's incompetence and not paying local contrators does not reflects the true situation.

The President of Ijaw Youth Council, Barrister Eric Omare, had called for the revocation of OML30 licence over alleged Heritage's incompetence and indebtedness to local contractors.

''When it took over operations of OML 30, in 2017, the firm inherited many invoices and ongoing contracts. The company noticed that while some of the invoices could be verified, there were some that could not. Despite this, the company went ahead and commenced with the payment of verified invoices while investigating others".

"The volume of the debts necessitated the development in conjunction with contractors of payment plans for installment payments. Since then, the company has been steadily reducing the debts according to the agreed payment plans"

''Heritage Energy Operational Sevices Limited, manages the OML30 aseet for the Joint Venture Partners, the Nigeria Petroleum Development Corporation, NPDC and Shoreline Natural Resources Limited, SNRL and has greatly increased production output from OML 30''.

 

"The company has also been able to reduce to a large extent the level of oil theft along the Trans Forcados Pipeline there by saving revenue for the Federal Government. Paid over N2.3 billion in taxes to government between 2017 and 2019".

 

"The company signed a Global Memorandum of Understanding, GMoU, with host communities in October 2018 to guide how the company and the community can work together to create understanding and cooperation towards consolidating a mutually beneficial relationship, and as part of our commitment to our host communities, the company has been providing scholarships worth over N181 million per annum to students from its host communities".


NNPC Monthly oil and gas report january 2020

Copyright: Fresh Angle International (www.freshangleng.com)


Hitler Preye Bela
Graduate of Computer Science, Federal Polytechnic, Auchi, Edo State with over 7years experience in Desktop Publishing.
Read other stories by Hitler Preye Bela
comments powered by Disqus

Sponsored Ads

NNPC Monthly oil and gas report january 2020