Nigerian Senate
The Senate has directed the suspension of additional variations on the Total Upstream Nigeria Limited 16.three Billion greenback Egina Deep Sea Oil Project.
The Ad hoc Committee on Investigation of Local Content Element on Egina Oil Field made this identified on Thursday in a assertion.
Chairman of the committee, Sen. Solomon Adeola, gave mentioned the directive adopted Senate’s decision to pay consultants to do a ”Value for Money Audit” of the Egina venture.
He mentioned after a two billion greenback variation on the venture, there was proposal for an additional one billion greenback variation.
He mentioned “the audit would final for 16 weeks by consultants paid by the Senate to make sure impartial account as a substitute of being carried out by NNPC/NAPIMS as required by the contractual settlement.
He decried that over the 5 yr interval of the venture no audit of any sort has been carried out.
Mr. Nicolas Terraz, Managing Director of Total Upstream Nigeria Limited, stated that as the main operator of the venture, it will proceed to help the committee in its investigations.