Nigeria Revokes Six Oil Block Licences

• Nigeria Revokes Six Oil Block Licences

The Federal Government has revoked six oil block licences due to ‘legacy debts’.

In a notice issued on Thursday by Nigeria’s Department of Petroleum Resources, the licences were revoked as a result of debts owed to the federation by the affected companies.

Five Oil Mining Leases and Oil Prospecting Licence were revoked by the government.

“Notice is hereby given that in furtherance of the presidential directive on the recovery of legacy debts owed the Federation and in line with the provisions of the Petroleum Act Cap. P10LFN 2004, the under listed Oil Mining Leases and Oil Prospecting Licence have been revoked by the Federal Government of Nigeria for non-compliance with statutory regulatory obligations,” the DPR said.

Revoked licences are Pan Ocean Oil Corporation (OML 98); Allied Energy Resources Nigeria, (OML 120 and 121); Express Petroleum and Gas Company (OML 108); Cavendish Petroleum Nigeria (OML 110) and Summit Oil International (OPL 206).

Also, OML 108, being operated by Alhaji Aminu Dantata’s Express Petroleum & Gas Company Limited, expired in 2015, while OPL 206, owned by Summit Oil International, which was founded by Abiola, expired in 2014.

OML 110, operated by Cavendish Petroleum Nigeria Limited, which was founded by the late Alhaji Mai Deribe, expired in 2016.