For Immediate Release: June 9th 2021 Contact: [email protected]
Agreement between Ameri-Metro’s Atlantic Energy & Utility Products, Inc., and Bayelsa Oil Company Limited will include farming of the Magna field OPL 240, with an estimated recoverable reserve of 45,000 barrels of oil per day
YORK, PA – Ameri-Metro, a widely recognized global leader in infrastructure development, announced today, “it has reached an agreement with Nigeria’s Bayelsa Oil Company Limited (BOCL) to undertake a massive energy development initiative.” According to Shah Mathias, CEO of Ameri-Metro, Incorporated, “in collaboration we will initiate exploration in tapping the reserves while utilizing protocols, mindful of environmental concerns at the nexus of investment and profitability. Our stewarding of the local communities will extend to affordable housing, self-sufficiency and job creation. With some of the largest energy reserves ever farmed in the Bayelsa region we will be recruiting and training local members of the community with educational measures that will provide best practice licenses, certifications and marked improvement on the quality of life.
Bayelsa is a southern state in Nigeria, located in the core of the Niger Delta region. As a state in the oil-rich Niger Delta, the Bayelsa State’s economy is dominated by the petroleum industry. The site of one of the largest crude oil and natural gas deposits in the country contributes to local economic development. In spite of an abundance in resources, the state remains plagued by rampant poverty, as well as pollution stemming from oil spills.
To counter some of these entrenched problems, Mathias, said, “Security to facilities and personnel is assured by the government because production from such operations will serve as a direct source of sustainable economic development in the tribal revenue generation and job creation to the citizens”.
Ameri-Metro affiliate Atlantic Energy & Utilities Products Inc (AEUP) has been granted a license to farm the Magna field OPL 240 Asset and any other discoveries made in Magna field OPL 240 Asset over the life of the fields. AEU has also been granted farming rights in the Niger Delta, where two (2) Exploratory/Appraisal wells have been drilled, with an estimated recoverable reserve of 70 million barrels of Oil.
OPL-240, situated in the easily accessed shallow waters (40ft) off of the Nigerian coast, is an aquatic region with an abundance of natural wildlife that shall be protected.
“We are utilizing state of the art technologies to extract a maximum capacity that will also ensure safeguards are in place for crucial environmental concerns. The area has been drilled, with an estimated recoverable production forecast of about 45,000 barrels of crude oil per day. Atlantic Energy & Utilities Products Inc will also have hydrocarbon off-take and lifting rights LNG, LP Gas operation together with operation of the major refinery in the region.
Ameri-Metro is an acknowledged global leader in the development of a wide range of infrastructure and infrastructure-related projects worldwide. In addition to its transportation infrastructure and equipment development, Ameri-Metro is also developing major commercial facilities worldwide. These include airports, major shopping malls, arenas and civic centers, and modern planned ‘green’ communities featuring the latest technological breakthroughs.
(BOCL) Limited is a registered Exploration and Production Company in the Federal Republic of Nigeria, engaging in the upstream, downstream, midstream sectors of the oil and gas industry in Nigeria.
In announcing the breakthrough agreement, Ameri-Metro Chairman, Shah Mathias expressed great confidence that the Ameri-Metro investment will be highly secure, since the license holder is a government-owned company, as such, the government for two decades can guarantee investment of third-party equity share.
“This is a major breakthrough for both Ameri-Metro and the Federal Republic of Nigeria,” said Mathias. “It represents a major step towards helping to ease the rigors of the energy crisis worldwide while improving the livelihoods of the local communities. This presents an unparalleled opportunity for Nigeria to advance crude oil refining and LNG processing for export and/or national consumption.” Mathias confirms.
Edited & Submitted by Cristiane Roget Sr. Correspondent
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