Daily Independent
19 June 2011
Lagos — There are palpable fears among International Oil Companies (IOCS) operating in Nigeria's multi-billion dollars oil and gas industry as the federal government blew hot on the operatorship of the controversial Joint Venture oil blocs, declaring that whoever buys the IOCs interests with intention to operate does that at its risk.
The government, owner of 55 per cent shares in all the oil fields, maintained that bidders for the interest, which Royal Dutch Shell is selling, should beware of the need to forget the operatorship of the fields.
The government also stated it was ready for the takeover of the fields operated by the IOCs declared that the Nigerian National Petroleum Corporation (NNPC) is matured to operate the fields.
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