The management of the Bayelsa Oil Company Limited (BOCL) has denied allegations of plans by the state government to sell the company.
The Board Chairman of the company, Chief Solomon Agwana made the clarification in a statement obtained by our correspondent in Yenagoa on Thursday, June 10.
He said the allegations which were published in an online medium are unfounded, adding that journalists should cross-check their information before publishing.
The statement reads in part:
“The attention of the Board of Directors and Management of the Bayelsa Oil Company Limited (BOCL) has been drawn to a news report on an online medium wherein unfounded allegations were levelled against the Managing Director of our company.
“The report, sadly, ignored the time-honoured journalistic best practice of cross-checking facts and getting potentially opposing views before publication.
“The said medium quoted copiously from a letter allegedly written by Consider Oruah to the Chairman of the Board Of Directors of BOCL wherein the petitioner complained about a purported sale of interests in BOCL and its assets.
“Though we are currently in negotiations to alter our relationship with existing partners and in discussion with prospective investors, the allegations in the publication are false.
“Besides, I did not receive any such letter from the said Consider Oruah. BOCL has also not sold its shares or property”.
Chief Agwana noted that Bayelsa has one of the nation’s largest oil and gas reserves that is why the state’s management of the oil company is highly important as it is reflective of the collective aspirations of the people.
“BOCL embodies the aspirations of the entire people of Bayelsa State regarding control and management of her resources.
“In line with this, BOCL has partnered with companies and will continue to seek out credible investors to work with to produce its assets and grow its reserves and asset base as every forward thinking company will do.
“Bayelsa State has one of the largest crude oil and natural gas deposits in Nigeria and our focus in BOCL is to acquire more of these assets for the benefit of our people”, he concluded.