General

OML-11: Rivers State secures 45% equity stake

Accordingly, Kidney Island, which was once used as Shell Petroleum Development Company operational base in Port Harcourt, now belongs to the Rivers State Government pursuant to a certificate of purchase registered in the Lands Registry.

 

The Rivers State Attorney General and Commissioner for Justice, Professor Zaccheus Adangor, SAN made this known while addressing newsmen after sealing off Kidney Island in execution of the judgement of Rivers State High Court.

 

 

Also speaking, a representative of the office of the Deputy Sheriff, High Court, Port Harcourt, Livinus Akere said the exercise was to take vacant possession of Kidney Island auctioned on the 13 August, 2019 and OML-11 in Ejama Community of Eleme Local Government Area.

 

Following a court order to auction SPDC assets in the suit against Ejama-Ebubu community, Governor Wike had directed the Rivers State Ministry of Finance Incorporated to make a bid of a hundred and fifty million dollars supported by a Bank Guarantee and cash payment to the Deputy Sheriff in the sum of N1bn, payable to the Judgement Creditors while the former is escrowed.

 

The certificate of purchase was issued by the order of the High Court of Rivers State on July 23, 2019 and September 25, 2019 following the purchase of the facility.

 

It will be recalled that the Supreme Court had on November 2020 reaffirmed the Rivers State Government acquisition of SPDC interest in OML-11 and Kidney Island when it dismissed the oil firm suit which sought to set aside the judgment made against it in 2019 in favour of Ejama-Ebubu community.

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