HomeEnergyOil Reserves To Be Boosted by NNPCL To 50 Billion Barrels

Oil Reserves To Be Boosted by NNPCL To 50 Billion Barrels

The Nigerian National Petroleum Company Limited, NNPCL, on Tuesday said that the continued oil probe in Nigeria’s border basins is done to increase the nation’s crude oil resources from 37 billion barrels to 50 billion barrels.

NNPC also began the formal setup for drilling for crude oil in the Ebenyi-A Well in Obi Local Government Area of Nasarawa State on Tuesday and noted that the well would help in reaching the aim of boosting 50 billion barrels of oil reserves.

This is coming four months after NNPC kicked off production of oil in the oil well of Kolmani, situated between Bauchi and Gombe states, late last year.

Mele Kyari, the Group Chief Executive Officer of NNPC Limited, told the audience at the site of the Ebenyi-A Well on Tuesday that the oil company had hauled a drilling rig to the location, and was hopeful about increasing Nigeria’s oil production every day to about three million barrels.

“Today, we have mobilized the drilling rig to this site, here in Obi Local Government Area of Nasarawa State. We are spirited that the favourable result of this movement will be instrumental in the federal desire of expanding our hydrocarbon resources from 37 billion barrels to 50 billion barrels, in the short to medium period and improve our crude oil output to a target of three million barrels every day.

“I wish to repeat that NNPC Ltd in partnership with the NURPC (Nigeria Upstream Petroleum Regulatory Commission) dedicated to leading actions of a survey of the country’s frontier containers that bridge the Chad Basin, Upper and Lower Benue troughs, Bida Basin, the Sokoto Basin, Dahomey, Anambra platform, Calabar embarkment, and the Ultra deepwater Niger Delta, utilizing the best manufacturing norms and technologies,” Kyari mentioned.

He also said that lobbying for re-entering into the Chad Basin had begun, as mandated by President Muhammadu Buhari the President of the Federal Republic of Nigeria, adding that the oil firm was improving in other actions in the borderland basins.

Buhari, who spoke online during the event, said the Ebenyi-A Well, situated in the Middle Benue Trough, was by the constant movements for the probe of crude oil and gas in the nation’s frontier basins.

He delineated the basins to include the Chad Basin, Dahomey Basin, Anambra Platform, Calabar Embankment, Sokoto Basin, Bida Basin, Benue Trough, as well as the Ultra-Deepwater Niger Delta.

“Today’s event observes the formal beginning of probe drilling actions in the Middle Benue Trough. This is uniform with the commercial findings of hydrocarbons in the Kolmani Area of the Upper Benue Trough.

“I am happy to state that actions are being taken currently to advance the Kolmani petroleum discoveries to market output to add to the country’s fair hydrocarbon investments,” Buhari said.

The President also said he was inspired by the action done by NNPC Ltd to utilize the opportunities in the Middle Benue Trough, bringing about the event in Nasarawa on Tuesday.

“The resultant practical outcome of these drilling efforts will lead to tremendous capital for the citizens and most especially improve general power protection for our nation.

“Without uncertainty, the surrounding communities will especially profit from the value that will be created by the probe and ultimate production project.

“I am also advising NNPC Ltd and its members to take proper care of the environmental effects of these oil probe activities and to alleviate the adverse consequences,” Buhari noted.

He acknowledged the government and the people of Nasarawa State for their help and partnership toward the accomplishment of the probe project.

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