Minister of State for Petroleum Resources, Timipre Sylva, has announced the discovery of one billion barrel of crude oil in the North-east.
“The figure is not totally out yet but from the evaluation results so far, the reserve that has been discovered in the northeast is about a billion barrels”, NAN quoted him as saying. “We have been quivering about the PIB for more than 20 years. We have not been able to attract a lot of investment to the oil sector.
“From 2007 to now, we have only been able to grow our reserves from 37 billion barrels to 37.5 billion barrels, in more than 10 years.”
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