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the battle for block 4

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Addax Claims JDZ Bloc 4 At Last


By JOHN MEZE

The controversy surrounding Bloc 4 of the Joint Development Zone, an oil producing zone in the deep offshore shared by Nigeria and Sao Tome and Principe on the basis of 60 and 40 percent, has been finally laid to rest from the statements coming from the joint authority controlling the area, Joint Development Authority (JDA) and the company supposedly awarded the bloc.
The authority set up by both governments to oversee the awarding of oil blocs to desiring oil companies through bid sessions has in a statement made available to National Mirror established that Addax Petroleum Corporation, is a new entrant into the West African region during the bid rounds organised by the authority in 2005. This is contrary to the claims by other oil companies to the ownership of the bloc believed to be holding over 16 billion barrels of oil and an undeterminate quantity of reserve in oil and gas industry.
JDA, contrary to speculations and seemingly lopsided held beliefs that a top ranking American oil company operating in the country had laid claims to the operatorship of the oil field and had worked through high profile, international finance institutions and organisations tried to influence the two governments to controvert the award of the bloc which currently holds the highest quantity of crude, has refuted the allegations, saying that Addax Petroleum remains the sole operators of the field and two other fields which include Bloc 2 and Bloc 3.
Though it averred that the there could be claims, counter-claims and overtures to ownership of the bloc due to the quantity of crude it holds, the authority stressed that all such efforts failed given its commitment to transparency and due process.