Bayelsa State is the second largest oil state in Nigeria, producing 514,800 barrels (about 23.4%) of Nigeria’s 2.2 Million barrels of daily crude oil production at the time of this publication.
Beyond abundant deposits of crude oil, the Bayelsa has other mineral resources, but because of the revenue it gets from oil production, it took the exploration of other resources with levity.
Solid mineral resources in Bayelsa are:
- Crude Oil
Exploring other Solid mineral resources in Bayelsa State
After the discovery of crude oil in Oloibiri in 1956, there have been several attempts to diversify the state economy by exploring other mineral resources in the state, but there has been lip service.
In November 2016, a team from the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) visited the oil-rich state to ascertain and verify the number of mining companies and leases issued to them.
Most of the foreign investments in Bayelsa are oil-focused, especially for oil exploration in Nembe Creek and Gbarain fields.
Apart from major oil operators in the state such as AGIP, Shell Petroleum Development Corporation (SPDC), Chevron, Texaco, StatOil, and Consolidated oil, we hope to see other investors exploring other solid mineral resources Bayelsa is blessed with.