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Exclusively: revealing the real reason for the Dutch company Zenith’s withdrawal from purchasing the OMV oil company in Yemen

Yemen Eco | Exclusive

“Yemen Eco” Website has obtained special information revealing the real reasons for cancelling the acquisition deal of a Dutch company on OMV oil company in Yemen, which pertains differences between government agencies on the commissions for facilitating the deal.

Zenith Dutch company announced yesterday night, its decline of the acquisition deal on the oil OMV company in Yemen, due to what it had described non fulfilling the conditions.

The company stated, in a statement, a copy of which was obtained by the Yemen Eco website, that it had cancelled the agreement to acquire the oil company’s assets, due to failure to meet the conditions for completing the sale and purchase, noting that these steps were made by mutual consent between the two parties, as the cancellation came more than half a year after the deal was announced, which took place in late January.

The information obtained by Yemen Eco website clarified that the deal was from the beginning  not legal, whereas it stipulated granting the company the rights of production in block S2 or what is called Auklah field, in Shabwah for the Austrian company OMV which was signed by the parliament, that if the company wanted to sell the rights granted to it , for another company ,that the purchasing company of should be a strong financial center and listed on the global stock exchange and of a long experience in the field of extracting and production of oil, and that is not applied on the Dutch Zenith company.

Information clarified “Yemen Eco” that the Dutch Zenith company does not have enough experience to enable it of the acquisition of OMV company and its financial center also does not qualify it for that. In addition to that, the value of one of its stock exchange shares does not exceed 70 cents comparing with OMV company where its value of one stock exchange share is 70 euros.

Also the information obtained by “Yemen Eco” disclosed that the passing of the deal with the Dutch Zenith company at the beginning came under the agreement of three main government parties , the prime minister, Main Abdulmalik, the minister of oil Said Alshamassi , and the head of the exploration and oil production authority Khalid Bahimish, based on getting financial commissions, however, these parties fill into disagreement about the percentages of these commissions, in addition to the entering of another party represented by Octavia energy company owned by  Hail Said Anem group which sought for obtaining  the deal of the purchasing rights of the Austrian company OMV. It had paid money for government sides so as to support its attitude, and this what had deepened the differences that led the Dutch Zenith company to cancel the deal. It is worth to mention that Octavia energy company is less qualified than the Dutch Zenith company.

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