Khulubuse drilling for oil in DRC
Fin24

Khulubuse drilling for oil in DRC

2012-01-15 11:20

Johannesburg - Two companies belonging to businessman Khulubuse Zuma are searching for oil in the Democratic Republic of Congo, the Sunday Times reported.

Zuma's companies, Caprikat and Foxwhelp, are registered in the British Virgin Islands and have begun exploration activities to the east of the Congo, according to British oil industry watchdog Platform London, the paper reported.

This was also confirmed by Michael Hulley, Zuma's legal adviser.

"If you ask anyone there, they will tell you the area is known for its deposits of oil. But the fact of the matter is that there are certain pre-emptive steps that you need to take. We are busy with those pre-emptive steps," the Sunday Times quoted Hulley as saying.

Zuma, President Jacob Zuma's nephew, paid $6m for two oil concessions in the country in 2010, the weekly reported.

The sites had been held by Irish group Tullow since 2006.

Tullow attempted unsuccessfully to block their reassignment to Zuma.

 

Comments
  • DrGonzoSA - 2012-01-15 13:02

    Bad decision by the DRC to revoke Tullow's licence. They are an oil company with proven experience. Fat boy has no idea about what to do. The result will be that the development of the resource will be delayed or never happen. This resource should be providing the NE DRC with some much needed jobs and infrastructure

  • DrGonzoSA - 2012-01-15 13:04

    And the fact that Tullow have the concession over the other half of Lake Albert, which would have made the development of the resource considerably easier. Anyway, Tullow could easily pump all the oil out from the Ugandan side. By the time fat boy gets his act together it could be all gone :-)

      Ibo.thabo - 2012-01-15 19:24

      We will be doing whatever we can to stop that. I don’t know this Zuma guy and I don’t want know him, but we are very tired for Europeans, they suck our blood so much for so long.

  • Gerald - 2012-01-15 13:10

    A man with a plan... add his own fat, the yield will just shoot through all records.

  • Mike N - 2012-01-15 14:01

    We all know that Pres Zuma went to the DRC and then a week later K Zuma got Tullow's consession ..... makes u think??

  • Dread69 - 2012-01-15 16:11

    So it's ok for the Zuma's to go plunder the local resources of other countries?

  • AndV - 2012-01-15 20:01

    This despot's greedyness knows no end. How can he live with himseld after all the hurt he has caused so many miners and innocent peolpe and children? His obesity is shamefull.

  • pages:
  • 1