#Country Updates #News #Nigeria #Upstream Exploration & Production

OML46: Group urges FG to revalidate licence for Bayelsa State

OML46: Group urges FG to revalidate licence for Bayelsa State

The Federal Government has been charged to revalidate the marginal oil field licence, OML46 asset in favour of Bayelsa State, which was earlier revoked by the Department of Petroleum Resources, DPR.

Recall that DPR on the 6th of April 2020, announced the revocation of OML46 alongside 10 out of the 13 marginal fields licences issued to indigenous oil firms, to build capacity and promote local participation in the oil and gas sector. OML46 asset held by Bayelsa State Government, through Bayelsa Oil Company Limited, is located within onshore swamps in Bayelsa State and was won in 2013, through a bidding process conducted by DPR, but was reportedly revoked for being inactive.

Speaking on the development, the Movement for the Survival of the Izon Ethnic Nationality, MOSIEND, expressed concerns over Federal Government’s revocation of marginal oil fields licence, OML46 asset held by Bayelsa State government.

Click on the link below for full report

Source: SweetCrudeReports

Leave a comment

Your email address will not be published. Required fields are marked *