Staff of the Nigerian Agip Oil Company have led a protest in Port Harcourt, Rivers State to demand an end to the acquisition of the Company’s facilities by Oando Plc.

The staff, who blocked access to Agip premises in Port Harcourt, called on the Federal Executive Council, the National Assembly and regulatory bodies to halt the transaction.

The leader of the protesters and the company’s chapter chairman of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Eyong Survival, alleged that the acquisition process contravenes known labour laws and if allowed to be concluded, will lead to the disengagement of over 3,000 staff.

Mr Survival claimed that the affected facilities in the acquisition process are the Oil Mining Leases in Rivers, Bayelsa, Delta and Imo states.

He said while they wait for good reasoning from the company and the stakeholders, the staff has withdrawn services in all the facilities run by Agip.

The labour leader noted that the effect of their withdrawal is already being felt as gas supplies have been cut from critical infrastructures and towns.

He said in the case that the transaction must be concluded, the staff must be given special severance packages and those entitled to be transferred to the new owner, must be allowed to do so without difficulty.

Oando Plc had announced via a statement that it reached an agreement with ENI to purchase 100% of Nigerian Agip Oil Company’s shares in the company.

This transaction, however, is still subject to ministerial approval, and other extant regulatory approvals.