The Federal Government has revoked the oil prospecting licence granted late Basorun MKO Abiola, the acclaimed winner of the June 12 1993 Presidential election annulled by former military president Ibrahim Babangida.
The government through the Department of Petroleum Resources (DPR) on Thursday revoked Summit Oil International (OPL 206) licence belonging to MKO Abiola.
Five oil mining licences (OML) and one oil prospecting licences (OPL) belonging to five companies were affected in the public notice issued by DPR.
The DPR revealed that the revocation was based on a presidential directive to “recover legacy debts” owed by the companies operating the licences.
The five companies affected are:
Pan Ocean Oil Corporation (OML 98);
Allied Energy Resources Nigeria, (OML 120 and 121);
Express Petroleum and Gas Company (OML 108);
Cavendish Petroleum Nigeria (OML 110) and
Summit Oil International (OPL 206).