The Minister of State for Petroleum Resources, Timipre Sylva has on Monday disclosed that the Federal Government plans to commence oil production in the Northeast. “I have said it a few times that we have found oil in the northeast and we have started drilling activities in the Lake Chad Basin,” he said. “I don’t know how the discovery of oil in the area will impact all the issues there but on our side, we believe that in a very short time, we will start production.” Speaking in an interview on Channels Television, the minister expressed dismay over the negative impact the COVID-19 pandemic has placed on the world, including the oil and gas industry.
He also noted that the level of piracy, oil bunkering and illegal refining in the oil-producing region has been on a decrease following the pandemic.
“Pipeline vandalisation is less than it used to be. Before now, we had less than 50 per cent production, I can assure you that pipeline vandalisation is less than it used to be. If you compare what happens now with what obtains in the past, I think it is less now.
“There is still a lot of piracy I understand, but the law enforcement agencies are dealing with it. We are looking at other ways of dealing with it and believe that in a very short time, we will be able to get the full handle on it,” he added.