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NAOC oil production drops from 55,000 to 38,000bpd in Bayelsa


Yenagoa – Nigeria Agip Oil Company, (NAOC) has expressed concern over the activities of oil thieves who specialized in vandalizing and tapping pipelines as its production nosedive from 55,000 to 38,000 barrel per day in Bayelsa.

Presenting a paper at the State Executive Council meeting of the Bayelsa State government, the company Managing Director, Mr. Ciro Antonio Pagano lamented the activities of oil thieves.

Pagano said the bunkerers scooped crude oil from the vandalized pipelines and sold at ridiculous price, which in turn was having negative effects on the economy of the country as well as affecting its production output.

Disturbed by this development, the government at the end of its meeting agreed to set up a tripartite security team, made up of government representatives, NAOC representatives and security operatives.

Briefing newsmen at the end of the meeting, the Overseer of the state Ministry of Information, Hon. Nathaniel Egba, said this became imperatives, noting the negative effect of oil theft on the economy of Bayelsa State and the country.

According to him, the government was worried at the drop in oil production as a result of illegal bunkering, sabotage and community disturbances.

He stated that the government has set up an investment recovery team to monitor oil production in the state with the aim of improving its revenue profile adding that the team would look into all issues raised by the management of Nigeria Agip Oil Company in the interest of the state.

Egba also disclosed that the oil company had handed over the Burma Rice project it was undertaking to the government as part of the company’s contributions to the agriculture revolution of the present administration.

“The fishing trawlers recently acquired by the government, two of them,FT-1,Patience Jonathan and FT-2,Margaret Alamieyeseigha, are now on fishing expedition,” he said. On the pending Child Rights Acts, Mr. Egba, said the governor had assured a visiting UNICEF team led by Mrs. Pelucy Ntambirweki, that the bill would be signed into law as soon as passed by the state House of Assembly.

He also stated that the exco had approved the draft bill on the Bayelsa State Expenditure and Income Transparency Initiative, BEITI, to be forwarded to the State House of Assembly for passage as a tool to guarantee good governance and accountability.

Egba also said that the management of the Power Holding Company of Nigeria, PHCN, in the state were at the Exco meeting to brief them on the progress made so far on the installation of meters and collection of bills.


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