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President Muhammadu Buhari inaugurates OPLS

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By Mercy Kelani

NNPC’s oil exploration activities discovered commercial quantities of oil.

The Nigerian National Petroleum Company Limited (NNPC) receives concrete support from President Muhammadu Buhari due for its exploration of oil activities across basins of the country for the development of Nigeria’s national oil reserve. Also, on Tuesday, November 22, 2022, the president conducted the inauguration of the Kolmani Oil Prospecting Lease (OPLS) 809 and 810. The ceremony was held at the Kolmani River II Well which has its location at a border community between Bauchi and Gombe States.

In October 2019, when the announcement of the availability of oil in commercial quantities at the Kolmani River Well II was made by the Nigerian National Petroleum Company Limited (NNPC), President Muhammadu Buhari carried out his first supervision of the drilling exercise. However, the ceremony and supervision were conducted with total support from the Minister of State for Petroleum, Chief Timipre Sylva, the Group Chief Executive Officer of NNPC, Mallam Mele Kyari and many other government officials and NNPC officials.

This discovery assures a bright future for Nigeria if it’s not political.

An anonymous speaker asserted that Sterling Global Oil, the NNPC Limited and New Nigeria Development Commission (NNDC) will be responsible for the development of the oilfields in Bauchi and Gombe States. Policy analysts and top tier players in the Nigerian oil and gas industry salute the president for his support with the assurance that this move would positively impact the NNPC’s exploration for more oil. It was also stated that this would call the attention of local and foreign investors towards the efforts of Nigeria in making efficient use of its natural resources.

According to one of the analysts, NNPC was able to proceed in the aggressive search of oil for the improvement of Nigeria’s oil and gas reserves as a result of the signing of the landmark Petroleum Industry Act (PIA) into law in 2021. As long as the supervision would not bring about political discoveries but discoveries of real oil, a consultant for national and international oil companies stated that it would fetch bright prospects for the oil and gas industry and Nigeria.

Bauchi State Governor believes the move would end poverty & unemployment.

The Nigerian Association of Petroleum Explorationists (NAPE) lauded the NNPC and the Chief Executive Officer for NNPC for the execution of oil exploration in the Benue Trough and Chad Basin regardless of the Corona Pandemic. President of NAPE during this period, Mr. Alex Tarka, said that NNPC’s oil exploration has gained the attention of the International Oil Companies (IOCs) having previously considered partnership with them. Then, he advised the Federal Government not to wait for investors before proceeding with oil exploration in the Benue Trough.

In October 2019, the Nigerian Petroleum Development Company (NPDC) announced its discovery of massive commercial quantities of oil and gas in Kolmani River. After this announcement, a proposal of a power plant and an onsite midstream refinery was made by NPDC with the aim of creating an industrial hub for generation of employment and provision of economic benefits. The Kolmani River II Well was drilled 2019 while the Kolmani River III was drilled in 2021 with affirmation by Bauchi State Governor, Senator Bala Mohammed, that it would change the narrative of poverty and underdevelopment in the state.

Illegal refining, insecurity and oil theft threatens the industry.

Additionally, the national oil and gas industry is confronted by challenges which include contracting and long procurement cycles, illegal refining, insecurity and oil theft. Continuous reduction in the exploration of hydrocarbon leads to collapse of industries, loss of revenue and many more. Additionally, the decline in oil price, insecurity, oil theft and illegal refining poses greater threats to the Nigerian oil and gas industry. Nonetheless, the continuous oil exploration of NNPC will help the industry achieve the goal of 40 billion barrels crude reserve and three million production mark.


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jdpumping
jdpumping
1 year ago

It’s good a thing discovery of crude oil along kumani river between gombe and bauchi I just pray it won’t be politicized as usual by our elites for their selfish gain

Abusi
Abusi
1 year ago

I’m happy for the Gombe and the Bauchi people for the discovery of crude oil in their state. It is important that their states are well developed and not exploited as they did to Niger Delta.

Haykaylyon26
Haykaylyon26
1 year ago

Wow this is a good thing more discovery of oil it will help in productivity and available of oil if it well utilized. All this oil theft should be manage and stopped

Hassan Isa
Hassan Isa
1 year ago

its great that President Muhammadu Buhari has given the NNPC his full backing in order to develop the country’s oil reserve, which is dependent on the company’s exploration of oil activities across basins across Nigeria.

Chibuzor
Chibuzor
1 year ago

Policy experts and leaders in Nigeria’s oil and gas industry applauded the president’s backing, saying it would help the National Petroleum Corporation (NNPC) find more oil.

Nwachukwu Kingsley
Nwachukwu Kingsley
1 year ago

It should be suggested that this would attract the interest of domestic and international investors in Nigeria’s efforts to maximize the benefits it derives from its abundant natural resources.

Adesanyaj72
Adesanyaj72
1 year ago

This will draw the attention of both domestic and international investors to the efforts that are being made by Nigeria to make effective use of the country’s natural resources.

Kazeem1
Kazeem1
1 year ago

In spite of this, the ongoing oil exploration conducted by NNPC would assist the industry in reaching its target of increasing the barrels of crude reserve as well as the production mark of three million.

Godsewill Ifeanyi
Godsewill Ifeanyi
1 year ago

Our oil and gas business is faced with a number of issues, some of which include illegal refining, oil theft, insecurity, and contracting and procurement cycles that take a long time.

Taiwoo
Taiwoo
1 year ago

A steady decline in hydrocarbon exploration causes numerous negative outcomes, including the cessation of vital economic activities and a fall in revenue. Increased dangers to Nigeria’s oil and gas sector include the country’s unstable political climate.

theApr
theApr
1 year ago

If everything works out, this finding guarantees Nigeria a prosperous future. Additionally, this would draw attention from both domestic and international investors to Nigeria’s attempts to utilize its natural resources effectively.

Christiana
Christiana
1 year ago

Nigeria’s attempts to maximize the value of the country’s abundant natural resources would receive more attention from potential investors both at home and abroad as a result.

Tolaniiii
Tolaniiii
1 year ago

The finding of crude oil in the states of Gombe and Bauchi is fantastic news, and I’m thrilled for the people of both places. It’s crucial that their countries flourish and aren’t exploited like Niger Delta was.

Ultra0711
Ultra0711
1 year ago

It is very encouraging that President Muhammadu Buhari has given the NNPC his full support to develop the country’s oil reserve.

Iyanu12345ogg
Iyanu12345ogg
1 year ago

It is important that their states are well developed and not exploited as they did to Niger Delta. I’m glad for the discovery of crude oil in those states.

SarahDiv
SarahDiv
1 year ago

It is just unfortunate that after milking the south of her natural resources and damaging their ecosystem they’re now discovering crude oil in the north. I hope it won’t become political.

Tonerol10
Tonerol10
1 year ago

discovery of crude oil along kumani river between gombe and bauchi, I no believe that story. Nigeria government is not sincere, not streight forward, not realistic. No prove yet

DimOla
DimOla
1 year ago

President Mohammed Buhari has done well in ensuring that oil exploration in the northern part has yielded results. I hope it will not be politicized.

Adeolastan
Adeolastan
1 year ago

The new discovery or exploration will not have any effect on the life’s of the citizens in the sense that the exploration of oil started in the 60’s without any meaningful development.

Remi1
Remi1
1 year ago

One of the experts claims that the enactment of the historic Petroleum Industry Act (PIA) into law in 2021 allowed NNPC to move forward with its aggressive oil exploration for the purpose of increasing Nigeria’s oil and gas reserves.