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Monday, July 15, 2024

NEPL takes over 100% ownership of OML11, seven others

The NNPC Exploration and Production Limited (NEPL), a Subsidiary of the Nigeria National Petroleum Company (NNPC) Limited, has announced take over of 100 per cent ownership of eight Oil Mining Leases in its custody, such as OML13, OML119 and the controversial OML11.

Recall that OML11 had been marred in controversy since 1993, leading to the execution of renowned environmentalist and playwright, Ken Saro Wiwa and 12 other Ogoni activists in 1995 by the Federal Government.

It is against this backdrop that Shell Petroleum Development Company (SPDC) lost the right to renew the OML11 license at the Supreme Court in 2022.

The Nigerian Petroleum Development Company (NPDC) is rebranded as the exploration and production arm of NNPC Limited, in line with the Petroleum Industry Act (PIA) 2021.

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