Sterling Oil, a subsidiary of Natural Oilfield Services Limited (NOSL), operator of Oil Mining Lease, OML 13, belonging to the Nigerian Petroleum Development Company, NPDC, has confirmed that it will commence oil production in Akwa Ibom State, by the end of 2022.
The Chief Executive Officer, Sterling Oil, Mr. Mohit Barot, who did not disclose the quantity, noted that the company is currently active in 18 locations and operational at Eastern Obolo, ONNA and Mkpat Enin local government areas, during the inspection of the project, Friday.
He stated: “We are currently in the advanced stages of completing the onshore facilities for processing and storage of oil. We will have the first oil by end of 2022.
“We are here for the development and betterment of Akwa Ibomites but for these, we need a conducive environment that provides the opportunity to succeed”
He also stated that the company has already created over 1,000 jobs for youths in the area, carried out numerous corporate social responsibility initiatives in line with their community development plans to include road construction in the community, community halls, education support to students, ICT and on the job training to local community youths, empowerment of women and other life touching projects to improve the economic life of the host community.
The State Governor, Mr. Udom Emmanuel, who inspected the project, expressed satisfaction with the pace of work ongoing at the project site executed in partnership with NPDC, a subsidiary of the Nigerian National Petroleum Corporation Limited and NOSL.
He thanked the project partners and advised youths in the area to cooperate with the state government and the companies by maintaining a peaceful environment in order to aid the speedy completion of the project, which will open the area for economic activities.
Also speaking, the Group Managing Director, NOSL, Anthony Chukwueke, further stated that the development of OML 13, will culminate in increased production of petrochemicals, fertilizers and polymers.
He explained that the domestic production of the products will over time minimise the import dependency, thus conserving the nation’s scarce foreign exchange.