The AEEPCO which is the operator of the Nigerian National Petroleum Company Limited (NNPC)/Aiteo Joint Venture on OML 29, said the contractual termination is “with immediate effect.”
The Aiteo Eastern Exploration and Production Company (AEEPCO) has terminated its surveillance security contract with the Amotoi Global Services Ltd, owned by a lawyer, Clement Amunaboye.
The AEEPCO which is the operator of the Nigerian National Petroleum Company Limited (NNPC)/Aiteo Joint Venture on OML 29, said the contractual termination is “with immediate effect.”
The firm also announced the termination of any similar contract with three other surveillance security providers including Obiene M Obiene, also known as “Organiser”, Thomas Livingstone and Christopher Ezekiel Enu.
Announcing the termination of the contract agreements in a statement issued on Monday, AEEPCO said, “All regulatory and government authorities within the oil and gas industry, all law enforcement and security agencies, all relevant third parties associated or connected with matters relating to the security of its operating installations and infrastructure, howsoever connected or wheresoever located.”
According to the oil firm, the termination of the contracts was sequel to the “confirmation of the occurrence of various damaging nefarious activities that have compromised our operations, constituting grave safety violations, manifesting high fraud, injurious criminal activity, gross negligence and the unacceptable cumulative exposure of our assets and business, perpetrated by the within-named entities and individual security contractor and service providers.
“Accordingly, any/all relationships/transactions with them, whether jointly or severally, purportedly on our behalf, cease forthwith.
“Any further involvement with these entities or individuals ostensibly pertaining to our company is hereby disclaimed.”
The AEEPCO’s Group Managing Director, Victor Okoronkwo, said, “For years, our company and its stakeholders have borne the worst impact of the consequences of crude theft, facilities vandalization, crude trafficking culminating not only in substantial financial losses but causing severe disruption to our operations.
“Despite the painful price we have had to pay, it is particularly galling to discover that we have been undermined by the entities or individuals who are supposed to secure our facilities and output.
“This speaks to the depth of the decay and the severity of the problem facing producers like us and calls for a heightened, urgent and comprehensive escalation and implementation of corrective measures.”