Global Investigations Group Conducts International Due Diligence Investigation of Available Oil Reserves
Industry: International Oil Drilling & Refining
Challenge: Global Investigations Group was approached by a major oil company interested in investing multiple-millions of dollars in a drilling and refining project in the Congo. The company requested a due diligence investigation to determine the existence of available oil reserves in the specified location and their ability to extract the oil and refine it prior to shipping and payment.
Discovery: Global Investigations Group was informed by the client that the Congolese government was seeking a guarantee and a deposit from the oil company in the amount of $180 million dollars against the available reserves as part of the agreement. After the oil extraction, the government also expected further percentages. Global Investigations Group's team of investigators traveled to the Congo to begin the investigation. G.I.G. quickly learned some facts about the current political situation. The former Colonel had the former General assassinated so that he could secure his position as the new General. He received backing from the French, who in turn paid the Angolan army to oust the sitting President, making the new General the new President.
G.I.G. was able to obtain pictures (that should not have been able to be obtained) showing every building in the Brazzaville location strafed with mortar and machine gun rounds. The only building in the entire city that was untouched was the one owned by the French Oil Company (ELF - prior to its privatization). Additionally, the refineries at Point Noir had been burned during the coo (see photos) so there would have been no place to refine the oil as was previously laid out in the agreement between the client and the Congolese representatives.
Result: As a result of Global Investigations Group's due diligence investigation in the Congo, our client, the major oil company, saved multiple-millions of dollars, including the $180 million dollar up-front money requested by the Congolese government as a good-faith down payment. Although they were disappointed to learn they were unable to move forward with the proposed drilling and refining project, they were relieved to avoid the substantial losses associated with doing business with thieves and scoundrels.
The major oil company was so please with our work that they contracted Global Investigations Group to perform another international due diligence investigation in Benin, where we were able to deliver a happier conclusion that has allowed them to successfully grow their business with a government that privatized.
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