• Friday, July 19, 2024
businessday logo


Oilserve GCEO Okwuosa, resigns from Eroton Exploration company board

Okwuosa, others urge Afreximbank to increase support for African EPC firms

Emeka Okwuosa, Chairman/GCEO, Oilserv Limited has resigned from the board of Eroton Exploration & Production Limited as a Non-Executive Director, the company has said in a release.

Okwuosa’s resignation from the board, took effect from February 16, 2023 following the notice of resignation of the same date communicated to the chairman and the board of Eroton.

He was invited to the board of Eroton Exploration & Production Limited as a non-executive director, to share his wealth of experience with the board and management of the company.

The statement noted that he exercised the responsibility with utmost good faith to the company in accordance with his fiduciary duty as a non-executive director. However, he has voluntarily exited the board.

Okwuosa, has extended his sincere thanks to the chairman and board of Eroton Exploration & Production Limited for the opportunity of service to the company and wishes the company success in its endeavours.

Okwuosa has served for 35 years as the group CEO and chairman of Oil Service. He also had experience in various engineering areas, including maintenance and operations, teaching, wireline logging and interpretation, seismic acquisition, processing and interpretation, pipeline engineering, procurement and construction (EPCIC), project management, among others.

Eroton had been in the news recently for some attacks on its facilities in the Niger Delta and a contractual dispute with the state-owned oil firm.

Last month, the Nigerian National Petroleum Company Limited and OML18 Energy Limited, both non-operating partners of Oil Mining Lease 18, announced the removal of Eroton as the operator of the joint venture in line with the provisions of the Joint Operating Agreement (JOA).

According to the NNPC statement, the move was to curtail further degradation of the asset and revamp the production of oil and gas.

A few days later, Eroton Exploration and Production Company Limited, insisted that it remained the operator of OML-18. Eroton argued that any dispute whatsoever between the parties were reserved exclusively for resolution under the dispute resolution clause of the JOA