Polish oil mogul expands into Nigeria
PR dla Zagranicy
Peter Gentle
15.11.2011 16:03
Jan Kulczyk, Poland's richest man, has finalised a deal ensuring him a major stake in a Nigerian oil concession.
Photo: sxc.hu
The owner of Kulczyk Oil Ventures (KOV) paid 800 million zloty (181.2 million euro) for a stake in the enterprise.
As it now stands, the state-owned Nigerian National Petroleum Corporation maintains a 55 percent stake in the concession.
The remaining 45 percent is now under the auspices of Neconde Consortium, of which Kulczyk is a key player.
The Neconde Consortium is in effect an alliance between Kulczyk and a number of Nigerian companies, with the Polish mogul controlling a 40 percent share.
Last month, Kulczyk suspended his oil operations in Syria, having invested 19.4 million zloty (4.5 million euros) in the country.
Vice-chairman of KOV, Jakub Korczak, explained that Syria was “virtually in a state of civil war” and that the company was no longer able to ensure the safety of its employees. (nh/pg)