NIGERIA TO EXTEND OIL EXPLORATION TO SIX BASINS

Nigeria’s
President – Muhammadu Buhari, has directed the Nigerian National Petroleum
Corporation (NNPC) to extend its crude oil exploration to six basins in the
country. President Buhari gave the directive at Barambu town in Alkaleri Local
Government Area of the Bauchi State on Saturday while flagging off the
commencement of drilling activities at Kolmani-II Oil Well, Gongola Basin,
Upper Benue Trough.

Speaking
at the event, the President said “Exploration in our frontier basins is
imperative to the economy of the country, I therefore have directed NNPC to
intensify its campaign in the Chad Basin, to discover new hydrocarbon to extend
the economy of the people within the region and the nation at large. Our next level
is to ensure that exploration is extended to Chad Basin, Gongola Basin, Anambra
Basin, Sokoto Basin, Dahomey Basin, Bida Basin and Benue Trough, for more
prosperous Nigeria. Gas and oil remain critical to the present economic
development of our country and the future,” he said.

Furthermore,
President Buhari commended the NNPC for the exploration into Kalmani River II
Well, which he said, will spur-off socioeconomic activities. The President noted
that his acquaintance with hydrocarbon research and exploration started in Lake
Chad as Federal Commissioner of Petroleum and Natural resources in 1976 during
which he supervised the drilling of 23 wells, which two were of gaseous, and
leading to NNPC acquiring 2,000 square meters of land in the basin. The
President also reiterated his administration’s determination in pursuing its
goal of ensuring adequate security, enhancing the economy of the country, as
well as fighting corruption.

Earlier
in his remarks, the Group Managing Director of NNPC, Maikanti Baru, said that
the exploration exercise started some years back and is a testament to the
resolve of the NNPC in discovering new oil and gas assets in the Country and
increasing the country’s oil reserves. Mr. Baru also expressed his gratitude to
those who made sacrifices towards ensuring the realization of the set goals
noting that oil exploration is a capital intensive project that takes many
years to accomplish. He however said that with patience and perseverance,
success could be attained, and therefore commended all stakeholders, urging
them to sustain their commitment.