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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