N-Delta stakeholders’ backs indigenous firm, Chappal petroleum on acquisition of ExxonMobil’s assets

Some stakeholders from oil and gas producing communities in Niger Delta region have thrown their weight behind an indigenous company, Chappal Petroleum Development Company to acquire assets to be divested by ExxonMobil in Nigeria.

The stakeholders are members of a pro-Niger Delta oil and gas producing communities advocacy group, known as Niger Delta Oil Communities Agenda NIDOCA.

In a statement on Teusday at Asaba, Delta state, signed by its Director of Publicity, Pastor Emma Akpovoka, they said, ” we are supporting Chappal Petroleum Development Company, being an indigenous company to acquire the assets to be divested by ExxonMobil Nigeria, which will enable Chappal Petroleum Development Company to exploit its potentials in the oil industry”.

The group also noted, ” the proposed sale or divestment of its assets in Nigeria by ExxonMobil Nigeria should offer opportunities to more indigenous companies and investors in the oil industry including Chappal Petroleum Development Company”.

Report has it that the assets to be divested by ExxonMobil Nigeria include its 40 percent equity shares in Qua Iboe fields and pipelines in oil mining leases (OMLs) 67, 68, 70 and 104.

It was reported that Chappal Petroleum Development Company, and foreign financial partners, a UK based Cairn Energy are determined to win and acquire the assets.

” we However, expresses optimism and confidence on Chappal Petroleum Development Company, being chaired by prominent industry player, Niger Delta illustrous leader and entrepreneur, Austin Avuru to acquire the ExxonMobil assets in Nigeria”..



Austin Avuru, was the pioneer and immediate past Managing Director/Chief Executive Officer of Seplat Petroleum Development Company Plc, a Company he co-founded in 2009.