Nembe Exploration clarifies EFCC's recovery role in fees

Nembe Exploration and Production Company Limited clarified its involvement in the Economic and Financial Crimes Commission's (EFCC) recovery of outstanding pipeline transportation fees. The company, previously known as Aiteo Eastern Exploration and Production Company Limited, stated that the recovered funds were owed to its joint venture (JV) with the Nigerian National Petroleum Company Limited (NNPCL) and not taken from Nembe itself.

In a statement, Nembe explained that it operated the Nembe Creek Trunkline (NCTL) on behalf of the JV and provided crude oil transportation services to third-party operators, including Newcross Exploration and Production Limited. The company attributed the accumulation of outstanding payments to operational challenges such as crude oil theft and pipeline vandalism.

Despite several attempts to recover the payments, including direct demands and correspondence, full settlement was not achieved, leading to the EFCC's intervention. The EFCC's actions were aimed at recovering money owed to the JV, not from Nembe.