Browsing: Dr. Saka Matemilola

Over the years, the venture has proved to be a drainpipe, as it said to be running a hefty yearly budget of $12 million. Already, a United States (U.S.)-based firm, ERHC Energy Inc., which has interest in blocks 2, 3, 4, 5, 6 and 9, has invested over $500 million into exploration activities without significant result.

“There is therefore need for us to reassert our relevance in the oil and gas industry by engaging in a very practical manner with the industry. PTDF has to move near the centre stage of the oil and gas industry by becoming increasingly involved.”