Sixty year after the first oilfield in Nigeria was discovered in Oloibiri , a Petroleum geologist Mr. Toyin Akinosho says there is still oil in the area.
Mr. Akinosho who was one of the facilitators in the ongoing Masters Course for oil and Gas Reporting in Pan Atlantic University, Ajah, Lagos said the reason oil companies could not drill in Oloibiri was because they were interested in bigger oil fields.
He explained that a big International oil company like Shell for instance would naturally go after oilfields with huge renenue prospect that would cover it's huge investment.
The question now is , what becomes of the remnant deposit in Oloibiri and many of such places which were abandoned because oil deposit in them were in short supply.
Oloibiri Oilfield,an onshore oilfield located in Oloibiri in Ogbia LGA of Bayelsa State was discovered on Sunday 15 January 1956 by Shell Darcy. It is Nigeria first commercial oil discovery.
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