Buhari Flags Off NNPC Wadi-B Oil Drilling In Borno
President Muhammadu Buhari on Tuesday flagged off crude oil drilling campaign at the Lake Chad Basin (Wadi-B Well) in Tuba community, Jere Local Government Area, Borno State
President Buhari said that the oil exploration if successful will improve security,, electricity energy, reduce unemployment and prosper socio-economic growth and development of the state.
President Buhari who made his speech virtually, appreciated the people and government of Borno State and the traditional institutions for their role in restoring peace in the state.
He further commended the management and board of the NNPC and the Upstream Service Limited for their evaluation and campaign.
Governor Babagana Zulum of Borno State while flagging off the oil exploration project on behalf of President, said his administration will do everything possible to support the staff and management of NNPC to actualize the availability of crude oil in the state and Lake Chad Basin.
Zulum further assured of his government’s full support towards realization of the prospective crude oil. He also thanked the Nigerian military for their efforts and support in restoring peace and protecting lives and property of the citizen.
He also appreciated the The federal government for its numerous supports to the people of Borno State.
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The Chairman, NNPC Governing Board, Senator Margery Chubo Okadigbo assured the Borno State Government of the corporation readiness towards the realization of the oil exploration prospect while thanking President Buhari for his support and approval for the return of oil exploration in the Lake Chad Basin region.
She also pledged that the corporation will continue to explore other areas and states to boost oil and gas prospects drilling in the interest of the national development and growth.
The Group Chief Executive Officer, Mele Kyari, said on Tuesday that the company is optimistic that the drilling exercise would help in its efforts to bring prosperity to the people through the elimination of energy poverty which is threatening Africa’s biggest economy.
The NNPC had stopped drilling in Wadi-B in 1995 because successes were weak and findings made during the period were not in commercial quantity.
The fresh drilling is part of the scramble for oil and gas deposits in Nigeria’s frontier basins.
Kyari said, “We understood very clearly that we need to understand the basin very well. We need to have a different approach to exploration activities in this very basin and that is why NNPC and our partners, the Ministry of Petroleum Resources and the current Upstream Regulatory Commission decided to embark on massive revaluation of all the frontier basins in the country.
“Now we are much more confident, we believe that this campaign will be successful and that this campaign will take us to the ultimate objective which is to increase the reserves of our country and also create opportunities around us. We believe that the time for oil and gas to vanish is still far away.
“We believe that oil and gas will continue to be principal in determination of the prosperity of our country of course more especially, providing energy security for our country. And this can’t happen unless we have access to the resources and we are able to convert them into value and of course a new approach to doing this that is practical which is what we are doing in the Kolmani area.” He said.