Nigeria has recommenced the exploration of crude oil and gas in the Chad Basin area, marking a return after 28 years of absence.
President Buhari, speaking virtually at the Wadi-B Drilling Campaign in Abuja, acknowledged that exploration activities had been ongoing in the Chad Basin since 1976, with the discovery of commercial gas at the Wadi-1 well in 1985.
Active drilling activities were suspended in 1995 for a comprehensive re-evaluation of exploration efforts across all frontier basins.
The Nigerian National Petroleum Corporation (NNPC) conducted extensive analysis and evaluation during this period, leading to successful drilling and discovery of crude oil and gas in Kolmani River 2.
The current operations in Nasarawa State and the re-entry activities in the Chad Basin have benefited from this prior work.
President Buhari emphasized the significant potential benefits that Nigeria stands to gain from these operations.
He expressed gratitude to the Government and people of Borno State for their support and urged security agencies and stakeholders to ensure the success of the venture.
The Group Chief Executive Officer of NNPC Limited, Mele Kyari, reiterated the commitment to conduct detailed exploration using industry best practices and technologies to achieve commercial discoveries of crude oil and gas.
He emphasized the importance of increasing the nation’s hydrocarbon reserves and assured that the mission would be delivered successfully, creating value for all stakeholders involved.
AGS NEWS 