September 30, 2019

Wike announces RVSG acquisition of Shell’s OML 11

We have improved security in Rivers State to attract foreign investors —  Wike


By Egufe Yafugborhi

PORT HARCOURT – GOVERNOR Nyesom Wike has announced Rivers State Government’s acquisition of Shell Petroleum Development Company (SPDC) 45% operating stakes in Oil Mining Lease (OML) 11 in Ogoniland, Rivers state.

Wike, OML 11

Gov. Nyesom Wike

Wike, in a brief state broadcast moments ago, said his administration has also made a $150Million bid for the purchase of some other interest of SPDC, now placed on auction by extant Order of the Courts of Law on the lease.

He said it is in Rivers best interest to fully make the acquisition because “it has become unlikely that for peace and security, the people of Ogoni in Rivers will welcome SPDC on their land forming part of OML 11” over decades of conflict with host communities which has forced Shell out for past 25 years.

Vanguard, Nigeria News