Marginal Oilfield: Oilbank Fraudulently Used My Name, I’ve No Dealings With Them – Arthur Eze

Prince Arthur Eze, Executive Chairman of Atlas Petroleum International and Oranto Petroleum, has alleged that Oilbank International fraudulent used his name in its marginal field bid round.

Eze, denied having any dealings with ADM Energy or Oilbank international, its Nigeria partners on the ongoing Marginal Fields Bidding Round in Nigeria.

BIGPEN reports that for the first time in several years, Nigeria is auctioning 57 marginal fields to energy investors and the exercise is expected to attract a lot of international partnerships to inject necessary capital and technology into the country’s marginal acreages.

In the bid round, foreign partners are also expected to do their due diligence before partnering with local entities.

On August 3rd, 2020, ADM Energy announced its successful pre-qualification in the Nigerian Government’s 2020 Marginal Field Bid Round, as the exclusive technical partner of Nigerian company Oilbank International.

The company allegedly claimed that Prince Eze was its chairman.

But a statement by Atlas Petroleum International and Oranto Petroleum on Friday, says Oilbank International fraudulently used Prince Arthur Eze’s name and presented him as its Chairman.

The statement said that the misrepresentation had led to media reports stipulating Prince Eze’s partnership with ADM Energy.

“The misuse of my name and reputation is a blatant fraud. I am not involved in any shape or form in the management of Oilbank International, nor do I serve as its Chairman of the Board.

“Consequently, neither I nor my companies Atlas Petroleum International and Oranto Petroleum have ever had in any way, shape or form, any discussion about a potential partnership with ADM Energy,” declared Prince Eze.

“If Atlas Petroleum International wants to acquire and operate a marginal field, it can do so on its own rights and does not need partnership with small companies like ADM Energy or Oilbank International to pursue such an opportunity.

“This is further demonstration that all stakeholders must adhere to President Muhammadu Buhari’s call to end corruption and promote sound and transparent business practices and corporate governance standards across the energy sector,” he further said.