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Shell
plans fresh N1.22trillion investment in Nigeria
By Uwakwe
Abugu
Bureau Chief, Warri
Shell
says its new plan to invest another N1.22 trillion ($9 billion) in Nigeria in
the next five years is a proof of its commitment to greater expansion in its
operations in the country.
According
to the in-coming Chief Executive Officer of the Shell�s EP Africa Region, Mr.
Chris Finlayson, the relocation of its Africa regional office to Nigeria is
yet another demonstration of its commitment.
He spoke
in Warri on the future of the oil firm in Nigeria saying, �Turning to the
future, we are going to bring the whole of the EP Africa Region here from The
Hague. �We are going to bring that to Lagos. Having it here in the largest
single operating area of the Africa Region will make a real difference and is
a mark of the importance of Nigeria to the Shell group,� he added.
He
explained that, �It is also coming at a time when there are speculations
about Shell�s commitment to Nigeria.�
There has
been apprehension among Nigerians that the newly Managing Director of Shell
Petroleum Development Company (SPDC), Mr. Basil Omiyi, may not have free
hands to operate since Finlayson will remain in Nigeria.
To this
and other such fears being expressed, Finlayson said, �I just like it to be
known that Omiyi will have exactly the same responsibility and freedom of
action as MD of SPDC as I have had. �In addition to this and the other significant
changes we make in SPDC by the end of the year, we will be moving from SNEPCO
to the technical director role in SPDC and in the midstream we will be moving
from the services director role across to take over at SNEPCO.
�And with
that of our four most senior positions in Shell companies in Nigeria three
will be occupied by Nigerians� he said.
Meanwhile,
Presidential Adviser on Petroleum and Energy, Edmund Dakouro,has said the
$1.5 billion fine that the Senate asked Royal Dutch/Shell Group to pay the
Ijaws is "illegitimate" and couldn't be enforced.
The
senate, on Tuesday had directed a Shell unit, Shell Petroleum Development Co.
of Nigeria, to pay $1 billion upfront and another $500 million in $100
million installments over the next five years to the Ijaw people of the Niger
Delta.
"Senate
rulings have the force of public opinion, and are a very powerful statement,
but the senate doesn't have the executive force to carry it out,"
Dakouro told Dow Jones Newswires on the sidelines of the Offshore Northern
Seas conference.
Shell
earlier Wednesday said its Nigerian unit hasn't received the reported demand
from the country's senate.
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