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Sonangol Hidden Interests in OPL 256

1st January, 2005

hexgear

Andy Uba is the front man for the Chinese Company; China Sonangol which is discreetly present in Nigeria’s offshore. Controlled by Sonangol and China’s Beiya International Development Ltd, China Sonangol over the past five years, has acquired stakes in Nigeria’s oil sector and the group equally controls a permit in the deep Nigerian offshore. The acreage is OPL 256 that lies south of Malabu Oil & Gas’ OPL 245 and covers depths of over 3,000 meters. China Sonangol discreetly acquired the license from the US firm Devon last year.

Sonangol has owned 10% of OPL 256 since 2005. Andy Uba has used his high-level political connections to help China Sonagol constitute a portfolio of assets in Nigeria.

Asset: OPL 256 Source: https://www.causes.com/causes/...

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