Ooni of Ife Emerges Chairman of Amaranta Oil & Gas Board
Emmanuel Addeh in Abuja His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi, Ojaja II, the 51st Ooni of Ife, has been appointed Chairman of the Board of Directors of Amaranta Oil
His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi, also known as Ojaja II and the 51st Ooni of Ife, has been named Chairman of Amaranta Oil & Gas Development Company Limited's Board of Directors. This strategic appointment comes as the company's Oil Mining Lease 42 (OML 42) enters a new phase of development and gains increased significance in Nigeria's oil and gas industry.
The federal government is currently seeking to boost crude oil production, encourage investment, and promote indigenous involvement in the petroleum sector. Amaranta Oil & Gas Development Company Limited announced the appointment, highlighting the growing influence of indigenous firms in managing Nigeria's upstream oil and gas assets following the industry's recent restructuring.
OML 42, situated in the Niger Delta and formerly managed by the Shell Petroleum Development Company of Nigeria (SPDC), has been transferred to indigenous stakeholders. This development aligns with Nigeria's efforts to bolster local participation in the upstream petroleum industry. The Ooni, who took the throne of Ile-Ife in 2015, is known for his commitment to development initiatives, and his appointment strengthens Amaranta's governance framework and positions OML 42 for its next phase of growth.
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