*Contract Initially Valued At $2.9b
*Similar Project Cost $2b In Qatar
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The House of Representatives Ad hoc Committee investigating joint venture operations between the Nigeria National Petroleum Corporation Limited (NNPCL) and its partners yesterday queried the spending of about $10 billion on the completion of the Escravos Gas-to-Liquids (EGTL) project as against the original contract sum of about $2.9 billion.
The Ad Hoc committee said it was concerned about the huge increase in the contract since a similar plant built in Qatar by the same companies that handled the Nigeria project cost about $2 billion.
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Also, the Group Managing Director of the NNPC Limited, Mele Kyari put to rest the question of the real owners of the new company, insisting that the NNPC Limited is owned 100 per cent by the over 200 million Nigerians.
Taking evidence from the Management of Chevron Nigeria, operator of the EGTL project, the House Committee demand details of why the Nigerian contract which was to awarded at an initial sum of $1.8 billion, but eventually, awarded at the cost of $2.9 billion had to cost the Nigerian government about $10 billion.
Although the Chevron management denied ownership of the Qatar plant which is said to be of similar type to the EGTL, they admitted that some of the companies that handled the Nigerian project also worked on the Qatar project. The Committee also queried why Chevron did not put in their own resources in the construction of the plant, but only relied on cash call payments.
However, responding to questions from the Committee, Kyari dismissed claims that the firm was operating secret account, stressing that there is no account operated by the company that is not known to the government.
He said: “This company is owned by 200 million Nigerians who you represent. We are accountable to the Nigerian people and the national assembly. We will do everything possible to cooperate and provide every data or information that will be required by this committee in the discharge of its duties.
“Having said this, let me put it on record, Chairman, that there is no account that the NNPC operates that is not known to the government and the Accountant-General of the Federation. We always submit the list of the accounts we operate. We make sure that we have appropriate approvals at all times to establish any account for this company.
“Secondly, if there is any information that the accountant general requires, we have two set of account, the accounts operated by the NNPC and also accounts operated by our joint venture partners on our behalf. So, there are two separate set of accounts. But I don’t know which information you are looking for that you do not have.’’
Chairman the Committee, Abubakar Hassan Fulata, warned oil companies who are part of the joint venture agreement with the NNPC against ignoring the invitation of the committee, adding that they should see it as an opportunity to present their own side of the story.
He warned the International Oil Companies in the JV partnership that the House will write their various embassies as well as the parliament in their respective countries informing them of the infractions against them.
For the Nigerian companies, “let me inform you that we have laws and agencies that will handle the issues against you and I can assure you that we will invoke all necessary laws. We have given you the opportunity to defend yourselves.
“Unfortunately, your Chief Executives have constantly ignored the invitations from this committee. On three occasions, they have written to seek for extension of time and we have granted them. But they have refused to appear in spite of that”.
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