Bayelsa Reviews Security Policy To Check Crude Oil Theft

The Managing Director of Izon-Ibe Security Company,
James Jephthah, said on Sunday that the Bayelsa
Government has reviewed its security policy to check
crude oil theft in the state.
Mr. Jephthah told the News Agency of Nigeria on
Sunday in Yenagoa that the policy review was to check
pipeline vandalism along the creeks and waterways in
the oil producing state.
The state government recently incorporated the security
firm, which it jointly owns with the private sector, to
protect oil installations within the state with a view to
stopping oil theft.
The official said that the activities of oil thieves and
pipeline vandals in the oil-rich state, contributed to the
decline in oil derivation revenue accruing to the state.
He explained that when vandals destroy pipelines, oil
companies were compelled to shut down production,
thereby reducing the volume of oil produced in the state
and by implication, the revenue.
“Izon-Ibe Security Company was set up by the present
administration with the responsibility to provide security
for oil installations and check oil theft”, he said.
“The new company will also carry out surveillance on
critical asset and infrastructure of multinationals,
government and other viable business concerns in
Bayelsa.
“The company has invited all multinational oil
companies and others doing business in and around the
state, to register with it and terminate any existing
security contracts with individuals or companies”.
Mr. Jephthah urged the oil firms operating in the state
to embrace the new initiative which he said was aimed
at reducing the risk of doing business in the state.
He, however, assured existing pipeline surveillance
contractors that their economic interests would be
protected in the new arrangement.
“The management has also invited all pipeline
surveillance contractors and other security contractors
to report to its office with photocopies of their
contractual agreements in this regard”, he added.
(NAN)