Sunday, June 27, 2010

Zuma nephew wins oil probe rights in DRC





Jun 27, 2010 12:00 AM | By LIHLE Z MTSHALI
Two companies owned by Khulubuse Zuma, a nephew of President Jacob Zuma, this week landed keenly contested exploration rights to oil blocks in the Democratic Republic of Congo.


Caprikat and Foxwhelp, both subsidiaries of Zuma's Impinda Group and registered in Switzerland, were awarded two oil blocks in the Lake Albert region in the eastern Congo.

The Mail & Guardian reported last year that Encha Group, controlled by Deputy Chief Justice Dikgang Moseneke via a family trust, had been pursuing oil rights in Albert Basin since 2006.

The Mosenekes, with businesswoman Andrea Brown's Divine Inspiration Group, had provisionally won two exploration blocks in the region.

It is understood that these are the same blocks that have now been awarded to Zuma.

Mpumelelo Tshume, acting group CEO of Impinda Group who is in charge of Impinda Energy, said on Friday the deal with the Congolese government was signed on Tuesday.

"The bidding process for the blocks took place earlier this year, but the engagement has been going on for the past two years," he said.

Tshume is a former CEO of Petroleum Oil and Gas Corporation of SA (PetroSA). He said Caprikat and Foxwhelp paid $6-million to the DRC in sign-on fees, but the value of oil in the blocks would be determined only once the fields had been developed.

"At this stage, we are estimating that there are 2billion barrels of oil in the two blocks," said Tshume.

The Congolese gave the companies 18 months to determine the quality and grade of the oil.

"We have begun preparing the business plan for the DRC project, which includes analysis of the available data, drawing up the exploration programme, assessment of the blocks' potential and finalisation of the development plans," he said.

Once the business plan is complete and exploration begins, it is intended to register the two companies in SA.

"We want to work with the South African government, which is a net importer of oil, and supply oil to the country at favourable rates."

While Zuma's energy interests appear to be on track, his mining business is still making news for the wrong reasons.

Zuma is chairman of Aurora Empowerment Systems, which last year took over the running of Pamodzi Gold's two liquidated mines, Grootvlei in Ekurhuleni and Orkney outside Klerksdorp.

On Friday, trade union Solidarity said 300 workers at Grootvlei had not been paid. It said 100 of its members at the mine were helping with care and maintenance of the mine.

Zuma said at the beginning of this month that Impinda Mining was preparing to extend a shareholders' loan to Aurora, and all outstanding wages would be paid by June 21.

On Friday, Tshume admitted that the shareholders' loan was yet to be extended to Aurora.

"The June 21 deadline to pay all outstanding wages has been missed, but that is because Impinda has not received full records from Aurora about what is owed and to whom.

"By the end of this month, Aurora will have been able to provide us with those records and the shareholders' loan will be extended," said Tshume.


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COMMENTS

Jun 27 2010 02:36:22 AM
SethMaverick
so??..............
REPORT ABUSE Jun 27 2010 05:58:02 AM
donkey boy
Aren't this 2 donkeys,the 1's that used to own Grootvlei mine that awaiting to Sweep Springs and nearby towns with thousands of gallons of Water?I wonder.
REPORT ABUSE Jun 27 2010 06:26:56 AM
NoMoreBucketToilet
Some souls will be so angry as it was not won by some western based company with the Koekemoer's and David's in it. Go brother and make them eat a humble pie.
REPORT ABUSE Jun 27 2010 07:59:05 AM
shredder
Blatant African nepotism
REPORT ABUSE Jun 27 2010 08:52:38 AM
crazy medic
LOL, good luck with that we have 3 blocks in the DRC (Lake Albert) and have been TOTALLY unable to do exploration because of corruption, demanding bribes, and bureaucratic meddling, but hey maybe Zuma has influence in the DRC to help his nephew.

We have tried since 2005 to get going there without an inch of success even after spending millions of USD. On the other side of Lake Albert in Uganda no problem, really cooking, in 5 years Uganda will be a big player in the Oil game......... if the Uganda government does not go the same route as Nigeria, Niger, etc.

Anyway good luck, if he comes right maybe there is hope for us as well.
REPORT ABUSE Jun 27 2010 09:06:08 AM
cf3
Please Vavi prosecute them if there are SA taxpayer moneys involved.

Viva socialism, Viva Vavi.
REPORT ABUSE Jun 27 2010 09:23:35 AM
VinceRSA
NO WONDER the zuma's had to get mbeki out of the picture!

and pity the CONGO, when the employees get no pay, the surrounding ebvironment is degraded and destroyed with no inkling of GREENING policies, and a warring niger delta style of community develops.
the zuma's will simply fly in the SADF to go and protect their property rights AT OUR COST again, apart from paying for his wives and extended (presumably his) offspring.
REPORT ABUSE Jun 27 2010 11:16:11 AM
brasco
zuma is a puppet not only to his anc cronies,but also to his own family.no wonder mantuli is playing away
REPORT ABUSE Jun 27 2010 11:33:32 AM
VinceRSA
When do we hear of the next thrilling zuma saga, maybe Phumlani zuma frolicking with the Rockefellers in the Bahamas on luxury cruise ships eh?
REPORT ABUSE Jun 27 2010 12:16:16 PM
Jackie Carey
Oh well, if everyone else is raping DRC, why not this lot? Polite warning, however: there is absolutely no rule of law in Congo except the gun. And if mini-Zuma thinks that he can treat people in Congo like he and his team did in South Africa, let's hope he has plenty of fat to insulate him from the shower of bullets headed his way. No-one who goes Congo gets out alive.


Sunday Times

Comments by Sonny

Now, you wonder why the presidential jet lands in the middle of the DRC jungle and gets flat tyres?

Cultural exploration!

ANC treasures!

Luthuli House investments!

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