FG To Begin Oil Production In Northeast – Petroleum Minister, Timipre Sylva

Whatsapp News

The Federal government has revealed plans to begin oil exploration the northeast.

Speaking during a recent on Channels Television’s Newsnight Abuja, which aired on Monday, for Petroleum Resources, said; “I have said it a few times that we have found oil the northeast and we have started drilling activities the Lake Chad Basin”.

“I don’t know how the discovery of oil in the area will impact all the issues there but on side, we believe that in a very short time, we will start production.”

The Minister also lamented that the COVID-19 pandemic has changed the world’s narrative, including the oil and gas industry.

He recalled that the recent held by the of Petroleum Exporting Countries (OPEC) in which Nigeria is a member was held virtually, noting that such meetings were not envisaged before the COVID-19 era.

Sylva also reacted to the piracy, oil bunkering and illegal refining in the oil-producing , saying such activities had reduced when compared to what was obtained in the past.

“Pipeline vandalisation is less than it used to be. Before , we had less than 50 per cent production, I can assure you that pipeline vandalisation is less than it used to be. If you compare what happens what obtains in the past, I think it is less .

“There is still a lot of piracy I understand, but the law enforcement agencies are dealing it. We are looking at ways of dealing it and believe that in a very short time, we will be able to the full handle on it,” he added.