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Bitumen: Ondo Set to Release Calendar of Exploration
The Ondo state Government said it would soon release the calendar of Operation of the execution of its bitumen exploration project, even as it mentioned that the geophysical survey of the deposit grounds will soon commence.
According to the Commissioner for Information, Kayode Akinmade, the exploration of the commodity would begin immediately.
He said the company partnering with the state government in executing the project, Liquefied Resources was expected to make available the drilling plan, while government would step up its Community relations role, being part of its obligation in the bitumen exploration contractual agreement aside securing the license for the exploration.
Explaining that the license given by the Federal government to explore bitumen in the state had a life-span of about three years, Akinmade said government was prepared to take the risk to explore bitumen in the state to the advantage of the people.
He said efforts of government at diversifying the state’s economy, especially as it affected the bitumen production, would begin to pay off in few months, submitting that results of government efforts would soon begin to show.
According to him, the bitumen project was real, adding that with the taking off of its exploration, the revenue base of the state would be enhanced, while the state would become an industrial hub even as it was mentioned that the exploration of Bitumen in the state would kick off immediately with 10,000 barrel per day.
Recall that Ondo state government recently announced a major breakthrough in its quest for economic stability as it revealed that arrangements had begun for the exploitation of its Bitumen, being one of the Mineral resources the state had in commercial quantity.
Government said it secured the license to exploit the commodity through Beecon Nigeria limited, a concern where it commands near complete ownership, even as it mentioned that it signed a Memorandum of Understanding with an American company, Liquefied Resources and a Joint Operating Agreement with for the immediate exploitation of Bitumen which the state has in large deposit on locations that stretches across Ondo -Edo and Ondo -Ogun boundaries .
