Lagos To Begin Oil And Gas Exploration_Good Idea...?

Lagos Prepares For Entry into Oil & Gas Exploration...!!!

VENTURES AFRICA October 16, 2012 Following the discovery of oil in Nigeria’s commercial hub, Lagos,  efforts at establishing the Lagos State Oil & Gas Corporation (LOGASC) has been redoubled as the economic capital of Africa’s second-biggest economy accelerates moves to enter the lucrative energy sector, and increase revenue generation. Although Lagos, which is estimated to reach 12.4 million by 2015, overtaking the Egyptian capital Cairo as Africa’s biggest city, is yet to officially disclose any oil discovery, BusinessDay reports  that the Special Adviser on information and strategy to Lagos state governor Babatunde Fashola, Lateef Raji said over the weekend: “… I can confirm to you that oil has been discovered within this belt, yet to be exploited.” Reports also reveal a former manager with Elf Petroleum, and MD Degencko Resources, Biodun Adesanya, confirmed Lagos has proven oil & gas fields in Aje and several wells, currently operated by Optimum and a few other companies.

A bill to establish LOGASC has been prepared, and members of the Lagos State House of Assembly invited stakeholders and general public to a public hearing on the bill on Monday.

On a partnership-based effort with the private sector and federal agencies, Lagos would through the corporation invest in all midstream and downstream oil and gas activities, including all gas processing businesses, petroleum products retailing, gas retailing, gas pipelines deployment, and acquisition of petroleum products tank farms and other distribution facilities.

Nigeria is the world’s sixth largest oil producer and Africa’s leading oil producer; with most of its oil coming from its middle belt
(Niger Delta region), which accounts for over 80 percent of the nation’s earnings.

http://www.ventures-africa.com/2012/10/lagos-to-begin-oil-and-gas-exploration/

Posted: at 17-10-2012 06:03 AM (11 years ago) | Gistmaniac

Eko oni baje ooooo

Posted: at 17-10-2012 07:06 AM (11 years ago) | Newbie

Another conduit pipe to syphon govt fund. We are watching.

Posted: at 17-10-2012 08:07 AM (11 years ago) | Gistmaniac

We need modern agriculture to produce food and not oil to promote poverty. Oil was discovered along the western coast of Nigeria since 60s’ for some political reasons was never exploited….

Posted: at 17-10-2012 05:42 PM (11 years ago) | Gistmaniac

very good

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Posted: at 17-10-2012 07:22 PM (11 years ago) | Addicted Hero