Governor Nyesome Wike has announced that Rivers State has acquired Shell’s 45% stake in Oil Mining Lease 11, situated in Eleme and other parts of Ogoni land.
The Governor disclosed this in a broadcast from the State Government House, Port Harcourt on Monday.
Wike revealed that a bid of $150million was made for the purchase of Shell’s stakes after they were placed on auction following an extant order of the Court.
The Oil Mining Lease 11 has a capacity to produce 250,000 barrels per day (bpd).
“I am delighted to inform you that the Rivers State Government has fully acquired Shell Petroleum Development Company of Nigeria (SPDC) 45% interest in OML 11 situated in Ejama Ebubuo community in Eleme Local Government Area and the adjoining Ogoni and other communities of Rivers state,” the governor said.
The oil field has been a subject of dispute between Shell and the people of Ogoniland over the degradation of their environment following the activities of the oil company.
The root cause of the dispute is historic due to the death of environmental activist, Ken Saro Wiwa and 9 others which forced the local arm of Shell to abandon activities in the Ogoni section of the lease.