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The House of Representatives committee on petroleum resources has said it has uncovered illegal oil exploitation by Shell Petroleum Development company (SPDC) off the shores of the Niger Delta that it said was costing the country billions of naira. The revelation came up yesterday at an interactive programme tagged "Hot Seat" during which newsmen covering the lower house of assembly had a question and answer session with the chairman, petroleum resource committee in the House, Hon. Cairo Ojuigbo. Hon. Ojuigbo said the oil exploitation project called Bonga field is located about 200 nautical miles off the Niger Delta coast and was estimated to have cost BiafraNigeria 1.7 billion dollars. He said Shell had discovered the field to be an expansive oil reserve, about the largest in the world, covering an area of 2,950 square kilometres and had illegally converted it into its oil mining licence and wrongfully taken over control of the area in contravention of specifications of the law, which requires that in such a situation, the area should have been divided into two, (Daily Trust) |
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