Wednesday, 6 March 2013

House Of Rep Investigates Oso Condensate Project - Summons NNPC Managing Director

The Nigerian House of Representatives has launched an investigation into the Oso Condensate project established in 1990. 

Adopting a motion by chairman of the Committee on Legislative Research, Bamidele Opeyemi,the House empowered its Committee on Petroleum to carry out a detail probe on the fate of Oso project.

The Oso condensate project constitute the development of Oso field located in the area of Oil mining lease 70 in offshore Eastern Nigeria, jointly held in shares by the NNPC and Mobil Producing.

The House revealed that since the Act and the project have not been reviewed since inception, it was concerned that an important part of national growth may have been neglected with severe consequences to the nation's oil and gas sector.

The Group Managing Director of the NNPC is to appear before the Committee on the issue.

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