Nigerian National Petroleum Corporation is to appear before the committee in two weeks, but lawmakers say they will invite President Muhammadu Buhari as the minister of petroleum resources if NNPC fails to appear as it has done in the past.
Sylva defended the revocation using portions of the Act that give the minister power to “revoke any oil prospecting licence or Oil Mining Licence” in the event of clear breaches by a “Licence” and other reasons specified in the Act.
Sylva informed that the said assets have not been optimally managed, adding that they were producing 130,000 barrels per day before acquisition by Addax which fell to 25,000 barrels per day.