We lost 4 million Dollars Recently, Says PPL, … Accuses AGIP of Sabotage

Mr Emmanuel Konyebagu (MD )& Engr Osa Owieadolor(EDO), Arriving the Occassion

The Managing Director of Platform Petroleum Limited (PPL), Mr Emmanuel Konyebagu has told an interactive forum of stakeholders, that the company has lost 4million dollars in an investment.

Mr Konyebagu made the disclosure at Delta Palace Hotel, Obinomba, Ukwuani local government area, Delta State recently in the first Interactive session between the company and its host communities.

According to the Managing Director, such was some of the challenges the company experiences in their operations.

Also speaking, the Executive Director, Operations (EDO), Engr Osa Owieadolor said the numerous challenges facing the company had made production to drop as low as 600 barrels per day when he was talking on the topic, ” Challenges facing the company’s production status”.

Engr Owieadolor confirmed the statement of the MD, disclosing that since inception the company had lost between 25 to 30 thousand dollars in operations.

The EDO said that apart from the company not meeting up to expected number of barrels per day of 3500 BPD since inception, the company was also facing challenges of securing funds from banks to carry out their operations.

Meanwhile, the Management of Platform Petroleum has accused AGIP Oil Company of sabotaging its efforts in building a successful indigenous company.

This allegation was made recently during an interactive forum organized by the company for stakeholders.

The Executive Director Operation (EDO) Engr. Osa Owieadolor, while speaking on the topic ‘’The Challenges facing the company production statue’’ said that the company lose 20 to 30 percent of the daily production between AGIP terminal and Brass terminal, thus reducing the quantity in monitory value of between 1500 to 1800 barrels per day, production, after loss deduction.

According to the EDO, the greatest challenge was the issue of loss the company had between AGIP and Brass terminals which led to arm twisting and sometime lockdown by AGIP in the evacuation of the PPL productions.

However, the EDO stated that despite the challenges, the company, and her joints partner, Newcross Petroleum Limited will soon carry out the commissioning of the gas plant project, while a permanent solution was been worked out for the problem between the company and AGIP.