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After a decade and a half of dormancy, there’s renewed hope for the OML-25 oil asset in Rivers State. The facility has transitioned from its original operator, SPDC, to Renaissance Africa Energy, setting the stage for potential resumption of activities.
However, this new chapter comes with its own set of crucial considerations. Renaissance Energy is actively engaging with the host communities surrounding Kula, mindful of the guidelines and opportunities presented by the Petroleum Industry Act (PIA). These consultations aim to establish a mutually beneficial relationship moving forward.
Meanwhile, the host communities in the Kula area of Akuku-Toru Local Government Area have clearly articulated their expectations. Foremost among their demands is a legally binding agreement with Renaissance Africa Energy. The communities emphasize that this formal commitment is a prerequisite before they will support the resumption of oil production within their territory. This stance underscores the importance of community involvement and benefit-sharing in the revitalized operations of OML-25.
