Henry Djaba Jnr
By Our Reporter
Earlier this year, Lakeland Oil and Gas International Trading and Supply Company Limited, owned by Ghanaian businessman, Henry Djaba, signed agreements for the development of two Oil Blocks on 11th March 2024, with a local partner in Guyana.
Lakeland, with an interest to acquire more Oil Blocks in Guyana, will now go ahead to engage directly with the Government of Guyana in the next bid round or by direct negotiation if possible.
At the recent Afrexim AGM that held in Nassau, Bahamas, it was confirmed that one of Lakeland Exploration Company Limited’s group of companies has already signed Agreements and is focusing on acquisition of strategic oil assets in the South American / Carribean region and on the African continent.
It has been confirmed that Namibia, Chad and Suriname are the other areas Lakeland is looking at investing a further $3bn (three billion US Dollars).
Lakeland Group, it has been confirmed is set to invest $6bn (six billion US Dollars) as follows :
* $1bn (one billion US Dollars) in Guyana,
* $3bn (three billion US Dollars) in Namibia, Chad and Suriname,
* $500m (five hundred million US Dollars) in an on-going Refinery project, and
* $1.5bn (one and a half billion US Dollars) in an FLNG project.
*Agreements have already been signed with local partners in Guyana to invest $1bn (one billion US Dollars in a Deep offshore and a Shallow oil block in Guyana.
According to the CEO of Lakeland Group, Mr Henry Djaba Jnr, he explained that Oil prices having maintained consistently high levels for such a long period is a major factor in the Chairman’s drive to enhance Lakeland’s portfolio by acquiring strategic assets in different countries.
In a further development, one of the Lakeland Group of companies, Lakeland International Energy Ltd is also investing a further $1.5bn (one and a half billion US Dollars) in Gas projects and are in discussions to secure a major FLNG project as well as investing $500m (five hundred million US Dollars) in an on-going Refinery Project.
Lakeland is counter-party to PetroChina who are one of the largest Oil Trading Companies in the world.
In several African countries,Lakeland is already the local content partner of CRCC,which is one of the largest construction companies in the world.
Prince Toks Sijuwade, a Director in the Lakeland Group, owns 10% of OML 152 (formerly OPL 283), and also owns 10% of OPL 276,and has managed Lakeland’s counter-party relationship with LITASCO, who are the Trading arm of LUKOIL one of the largest Oil Companies in Russia.
For many years, Lakeland has been working with LINK ENERGY, which is the State owned Oil Company owned by the Ruler of Fujairah in the UAE.
In addition to its existing International Operators, Lakeland has formed new relationships in 2024 with established Operators such as,ODE & EXCEED.
ODE Asset Management (ODE) currently produces approximately 50,000boepd from the Harbour/Kellas Tolmount Platform, NEO Babbage Platform and IOG Blythe Platform ,whilst EXCEED Torridon Limited (EXCEED) total production under management currently is Thirty Thousand Barrels (30,000bbls) subsea production from 11 wells per day, tied back to an FPSO in the North Sea for AOC, which is a joint venture between Ping and Hibiscus.
In 2023, Lakeland collaborated with AFENTRA, who are currently Operators of approximately 20,000 barrels per day in Angola.
Having strong International Banking relationships, the owners of Lakeland have long standing very powerful strategic partnerships in the UAE, Qatar, Saudi Arabia and China, which enables the Lakeland Group to fund all its projects without any difficulty whatsoever, hence,a further $4bn (four billion United States Dollars) separately earmarked for the acquisition and development of a Gas Block in an African country.
