*Announces huge deposits of oil & gas in Cross River
Port Harcourt — Cross River State Governor, Ben Ayade, has announced that in spite of the delisting of Cross River from the oil producing and oil bearing states, the state still boasts of huge hydrocarbon deposits.
To this end, the governor has called on the Federal Government to review the marginal oil fields allocation process, in order to fast track the process of extracting the hydrocarbon reserves in the state.
The governor who made this known when the National Assembly Joint Committee on Petroleum Industry Bill, led by its Chairman, Sen. Sabo Nakuda, visited him recently, explained that the state has huge deposit of crude oil and gas in Biase, Odukpani and Ogoja axis of the state.
Governor Ayade said that the Petroleum Industry Bill should be designed in a way that gives state governments the discretionary right for the exploration and exploitation of hydrocarbon deposits.
“So as PIB comes before me and I know that in Biase and Odukpani Local Government Areas of Cross River State, we have huge inland deposits of crude.
“I have done this analysis and have sent the report since 2016 to the President and asked for a discretionary right for the exploration and exploitation of our hydrocarbon deposits. I have not received a correspondent till date.
“There is a huge deposit of gas in Ogoja axis sharing boundary with Ebonyi. This, I have also reported with a geo locations and issued as a report.
“How does PIB address this? So why not review the marginal fields allocation process to fast track the process of extracting the hydro carbon reserves, to take advantage of it and diversify the economy before it becomes old fashion.
“So I agree with the need for us to show some speed in passing the PIB, but I feel that the people of Cross River State have been treated unfairly.”
Appeared on SweetCrude