IPNEWS: The Environmental Group , Environmental Eyes Consultancy and Advocacy rim Inc. through its Executive Director, Matthew Sieh Wisseh, has call on House Speaker Richard Nabge Koon and members of the House o Representatives to object to the proposed ratification of the petroleum license agreement awarded to Atlas Petroleum International Limited, a company ‘believed to be owned’ by a Nigerian Businessman Prince Arthur Eze, for offshore oil exploration in Liberia.
The Environmental Group in a statement issued in Monrovia, stated that after a careful review of available records, reports, and Liberia’s own petroleum governance framework like the recent case in Liberia as reported by Global Witness.
The Environmental Eyes Consultancy and Advocacy rim Inc. through its Executive Director, Matthew Sieh Wisseh outlined reasons or the objection as Questionable Technical and Financial Capacity, Atlas Petroleum has a documented history of limited operational capacity and has never independently developed a productive oil field.
“In jurisdictions like Nigeria and Equatorial Guinea, it has frequently relied on third-party operators due to insufficient technical expertise and financial challenges. Liberia, as a frontier oil country, requires technically capable and financially stable operators to minimize risks and maximize national returns.
Lack of Competitive and Transparent Licensing Process: The license to Atlas Petroleum was reportedly awarded through a Direct Negotiation Process (Petroleum Law,2019) as opposed to an internationally acceptable competitive bidding process as emphasized by the Public Procurement and Concession Commission Act (Section 97) and the Liberia Extractive Industries Transparency Initiative (LEITI) laws and principles (Section 5.1,5.4), which mandates transparent and open tenders. This approach by The Liberia Petroleum Regulatory Authority (LPRA), is conflicting and lack harmoniousness in our laws and also undermines Liberia’s commitment to good governance and contravene international best practices.
Prince Arthur Eze and his companies currently operate behind a veil of secrecy, with no publicly
disclosed beneficial ownership structure, credible and functional official website , verified audited financial statements, or corporate governance standards. This violates the spirit and obligations of Liberia under the Extractive Industries Transparency Initiative (EITI).
Awarding a license to Atlas-Oranto would undermine Liberia’s credibility, invite corruption risks, and erode public trust.
Weak Corporate Governance and Reputational Risk
The principal owner, Prince Arthur Eze, has been allegedly linked to corruption allegations, political favoritism, and offshore financial secrecy, as documented in credible international investigations, including the Global Witness reports. Endorsing a deal with such a politically exposed person (PEP) places Liberia at risk of reputational damage and deters reputable investors from entering our petroleum sector. As a high-profile Nigerian political financier, Prince Arthur Eze’s involvement in Liberia’s petroleum sector raises red flags regarding political interference, lobbying pressure, and regulatory capture. Liberia must maintain an independent, transparent, and non-politicized process for allocating its national resources.
Acquiring and Flipping,
Mr. Speaker, evidence suggests that Atlas-Oranto’s business strategy is allegedly centers on license trading, acquiring exploration blocks, holding them without investment, and seeking to flip them later for profit. This speculative approach results in resource sterilization leaving valuable national assets idle while communities remain impoverished.
Undermines Petroleum Sector Reform and Investor Confidence , Ratifying this deal would reverse the progress Liberia has made in cleaning up its extractive sector and sends a negative signal to credible oil companies seeking to invest. It may also jeopardize Liberia’s
standing with international partners and watchdog institutions committed to transparency and accountability.” Environmental Eyes Consultancy and Advocacy rim Inc. through its Executive Director, Matthew Sieh Wisseh, rallied members of the House.
In Conclusion and Recommendation, Environmental Eyes Consultancy and Advocacy rim Inc. through its Ecxecutive Director, Matthew Sieh Wisseh, urged the Honorable House of Representatives to Reject the ratification of the Atlas Petroleum license agreement Recommending a relaunch of an independent and transparent competitive bidding process in line with Liberian laws and international best practices;
Additionally, Environmental Eyes Consultancy and Advocacy rim Inc. urged the House to Protect the long-term interests of the Liberian people in consideration of the future generation by insisting on partners with strong technical capacity, financial integrity, and clean reputations
