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Rivers State government acquire Shell 45% interest in OML 11

Rivers State Government has fully acquired Shell Petroleum Development Company of Nigeria, SPDC Forty-Five percent interest in Oil Mining Lease, OML 11 situated in Ejama Ebubu community in Eleme Local Government Area and the adjoining Ogoni and other communities of the State. Governor Nyesom Wike who stated this during a Live State Broadcast at Government House, Port Harcourt, explained that the decision for the acquisition of OML 11, was based on a court judgement, following a major oil spill from SPDC Oil Pipeline at Ejama Community, affecting agricultural land and fishing swamps. While noting the impact of environmental degradation resulting from oil related operations suffered by the state, Governor further explained that the resolve by the State Government to purchase OML 11 was to boost the revenue base of the State Government and transformed the State and its peoples for the better. Governor Wike directed the Rivers State Ministry of Finance and relevant Government agencies to liaise with financial institutions to ensure that the oil field come on stream within fifteen months. The Rivers State Governor who says his administration is sensitive to the agitation of political and economic freedom of the people, assured that he would continue to respond appropriately to the challenges of development in the state.

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