In its commitment to consolidate its efforts to jointly own an Oil Company, the Petroleum Technology Association Of Nigeria PETAN and Abia State Government have incorporated and floated an SPV called ABTAN ENERGY LTD.
Briefing newsmen on the outcome of this Week’s Executive Council Meeting presided over by Governor Alex Otti, the Commissioner for Information, Prince Okey Kanu noted that the development is aimed at consolidating the business relationship between the State Government and PETAN.
“To consolidate the state government’s efforts to jointly own an oil company,PETAN and the state government have incorporated and floated an SPV called APTAN ENERGY LTD”
“if you recall not too long ago we reported that there was an agreement between the state government and PETAN now that move has gone a step further with the floating of this SPV that is meant to consolidate the business relationship between the state government and PETAN”
Prince Kanu while noting that the State has about one hundred capped Oil wells, said the move will provide the State Government the unhindered opportunity to partake in the Oil Industry.
“Of course we’re all aware that the state has about a hundred capped oil well and the way to go is to ensure that the State partake in that industry”
He noted that the State Ministry of Petroleum and Mineral Resources has commenced a wide Field study of the Solid Mineral Sector to determine the Commercial viability and quantity of critical Mineral Deposits in the State.
The Information Commissioner who disclosed that Abia State has about 17 Mineral Resources, noted that determining the quantities of the Mineral Deposits will enable relevant Industries to be set up in areas where the Minerals are in Commercial quantity.
“In addition, the same ministry of Petroleum and mineral resources has commenced a wide field study in the solid mineral sector to determine the commercial viability and quantity of critical minerals in the state and we have quite lots of them, about 17” Kanu noted.
Prince Kanu used the forum to inform members of the Public especially those who peddle falsehood in the name of opposition to desist from such acts or be ready to face the full weight of the law in line with the Cyber Security Act and Data Protection Act.
While warning that Government will no longer tolerate any act of falsehood aimed at misinforming and causing mischief among the populace, Prince Kanu said the State Government has nothing to hide.
