President Muhammadu Buhari has flagged off the resumption of physical activities towards the exploration of crude oil and gas in the Chad Basin area, expressing his belief that the successes recorded in the Kolmani River 2 and Nasarawa State will be replicated in the area.
Speaking virtually on Tuesday in Abuja at the Wadi-B Drilling Campaign which physically took place in Borno State, President Buhari declared that “crude oil and gas exploration activities have been ongoing in the Chad Basin since 1976 and also know of the discovery of sub commercial gas at the Wadi-1 Well in 1985.
“I am also aware that active drilling activities were suspended in 1995 to enable re-evaluation of exploration activities in the entire frontier basins.
“I am happy that the NNPC has since then conducted extensive Basinal Analysis and Evaluation of all frontier basins leading to the successful drilling and discovery of crude oil and gas in commercial quantities in Kolmani River 2 and providing insight to the ongoing crude oil and gas drilling campaign in Nasarawa State as well the current re-entry activities into the Chad Basin.”
The President affirmed that the country stands to benefit immensely from a positive outcome of the operations as there will be an increase in National crude oil and gas reserves and production, enhanced national energy security and greater prosperity for Nigerians.
He congratulated the Board, Management and Staff of NNPC Limited and that of the Nigerian Upstream Petroleum Regulatory Commission on their unrelenting efforts at developing the hydrocarbon potentials of the country’s Frontier Basins.
President Buhari also thanked the Government and people of Borno State for their support in ensuring the resumption of drilling campaigns, urging security agencies and other stakeholders to ensure that the venture meets with a resounding success.
Earlier in an address, the Group Chief Executive Officer of NNPC Limited, Mele Kyari, said the re-mobilization of a drilling rig to the Chad Basin for the first time since the 1980s indeed underscores the visionary leadership of President Buhari.
He added that “NNPC Limited is committed to carrying out detailed exploration of the Frontier Sedimentary Basins using the best industry standards and technologies, with the aim of attaining commercial discoveries of crude oil and gas.
“This is a spud-in event that will reinforce the Government’s commitment for exploration in the Nation’s Frontier Basins, primarily aimed at increasing the Nation’s hydrocarbon reserves. This is a mission that we will take to delivery. We are very committed. It does not depend on Mele Kyari. It will work. This is a process, and this process has value, and this value will be created for everyone,” Kyari further said.
Governor Babagana Zulum of Borno State, later performed the physical flag-off ceremony on behalf of the President.
Deji Elumoye in Abuja