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I am one of those that strongly condemned the action of the minister of state for Petroleum resources, Timipre Sylva on grounds stated below. One, the minister cannot arbitrarily revoke or renew an Oil Prospecting or Mining License OPL/OML. Two, the minister does not have discretionary power to award or allocate a revoked OPL/OML3.The minister should put the interest of the nation first above the interest of any individual or company. Marginal fields allocation list approved by the President is questionable. The contractor/operator signed a Joint Venture (JV) or Production Sharing Contract (PSC) agreement with NNPC not DPR. DPR can only revoke or renew a JV or PSC agreement on recommendation from NNPC. This process was neglected by the minister. If for the above reason the license is revoked, the Blocks OPL/OML shall go for competitive bidding to determine its true value. It’s economic sabotage to assign a block free without competitive bids especially Oil and Gas Producing Block.

Timipre sylvaTimi sylvaShell petroleum development companyKaztec engineering salvic petroleum resourcesInter ministerial committeeOil prospecting or mining licenseOil prospectingMining licenseJoint ventureProduction sharing contractGas producingSalvic petroleum resourcesடைமி சில்வாஷெல் பெட்ரோலியம் வளர்ச்சி நிறுவனம்இடை மந்திரி குழுஎண்ணெய் ப்ரோஸ்பெக்‌டிஂக்