Buhari affirmed that the country stands to benefit immensely from a positive outcome of the operations.
28 years after pulling out of the Chad Basin area, Nigeria has announced that it has resumed exploration of crude oil and gas in the region.
Speaking virtually on Tuesday, May 23 in Abuja at the Wadi-B Drilling Campaign which physically took place in Borno State, President Buhari said he was aware that crude oil and gas exploration activities had been ongoing in the Chad Basin since 1976, as well as the discovery of some commercial gas at 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.”
Buhari affirmed that the country stands to benefit immensely from a positive outcome of the operations.
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.
Group Chief Executive Officer of NNPC Limited, Mele Kyari, said: “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.