FG decries wasting $600m investment, vows to revive moribund oil

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Disturbed by the wasting away of a $600 million investment on account of failed offshore and onshore projects under the Antan scheme

, the Federal Government is to reactivate all moribund and dormant oil and gas support facilities nationwide.

Fabrication at the facility was designed to make it the first wholly indigenous EPIC company to deliver complex offshore and onshore oil and gas projects until Addax Petroleum declared a force majeure on its operations. Earlier, the Director of the Department of Petroleum Resources , Sarki Auwalu, pointed out that the facility, when functional, would play a significant role in driving the government’s gas utilisation, penetration, and expansion programme.

Source: News Formal (newsformal.com)

 

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