Two weeks after host communities shutdown Oil Mining Lease (OML) 30, Heritage Energy Operational Services Limited (HEOSL), operators of the facility have announced that operations have resumed on some flow stations in the Oil field.
The company made this known in a statement issued on Thursday, stating that the shutdown was called off Friday, November 20, two weeks after production was interrupted, by a majority of the host community stakeholders.
The firm reaffirmed its continued commitment to a mutually beneficial relationship with OML 30 host communities across Delta state.
It expressed thanks to the Joint Venture partners for their intervention in resolving the shutdown of operations and ensuring the phased resumption of crude oil production.
”The decision by the community stakeholders to call off the shutdown was largely influenced by the significant progress made by the company in meeting its commitments to the host communities, which include; inauguration of the GMoU Contracts Committee, commitment to release additional GMoU funds, tangible progress with the award of contracts to community contractors in line with the GMOU, payment of a large number of community contractor creditors,” the statement read in part.
”The economic downturn and the resultant drop in oil prices is the major reason for the company’s current cash flow challenges. Despite this, the company continues to work steadfastly to secure inflows of funds, to settle the balance of outstanding commitments”.
”The Company remains confident that it will continue to be able to meet its obligations and contribute to the local and national economy and reminds the community stakeholders that HEOSL’s financial position is dependent on its ability to maintain production.
“This means shutdowns are not in the best interests of the company, the communities, the JV Partners or the Federal Government of Nigeria”.
”The company expresses its appreciation to the leadership of the community for rejecting calls that the company should be removed from the management of OML 30 because of their conviction that despite the challenges, HEOSL remains a preferred partner for the operatorship of the asset,” it stated.