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Imo State Governor, Mr. Hope Uzodimma, has assured stakeholders that Shell Petroleum Development Company (SPDC)would soon return to the state to resume operations after years of exiting the state as a result of insecurity.
Uzodimma, who disclosed this after a meeting between him and the SPDC Managing Director, Mr Osagie Okunbor, in Abuja, said that the planned return of Shell to Imo is one out of numerous efforts his administration had made recently to bring back companies that left the State either as a result of insecurity or liquidation based on debt overhang.
The governor also stated that his administration successfully brought back the Standard Shoe Company Limited hitherto operating in Owerri which has been taken over by AMCON because of indebtedness.
He said that his administration successfully cleared the debt overhang of N1.6 billion to receive the Certificate of Occupancy from AMCON management to resume operations.
He hinted that Shell specifically left Imo State because of insecurity even before his administration came on board.
He said: “One of the observations of my administration upon resumption of office, was the fact that Shell Petroleum Development Company of Nigeria Limited (SPDC) had been off-site and suspended operations in Imo State as a result of insecurity, vandalism and illegal oil bunkering within the region”.
He said having restored peace and tranquillity along the coastline, today, he met again with the Managing Director and Chairman of the oil giant, Osagie Okunbor adding that he was elated at his assurance and confirmation of the company’s resolve to resume exploration in the State.
Uzodimma said that the development is expected to create a ripple effect and economic boost for the growth of local content within the region and the state at large, while contributing to more developmental projects from the Government. He expressed gratitude to the management and staff of SPDC while assuring that the state government is committed to any partnership that would bring about the development of the state.
Recall that SPDC had temporarily halted the construction of a multi- billion naira Assa North/ Ohaji South Gas Development Project sited in Imo State, which was started in 2019, due to the growing incidents of insecurity in the area.
The project, when completed, has a potential capacity for 300 million standard cubic feet of gas per day, one of the largest domestic gas projects in Nigeria.
