Buhari loud Gombe, Bauchi giv’t as he officiate first oil exploration northeast – Veloxnews


From Abdulrazaq Mungadi, GombePresident Muhammadu Buhari has commended governments of Gombe and Bauchi state for their unwavering commitment and willingness that led the success of the oil exploration in the states. He said both states governors had given the needed support and cooperation.The President stated this while flagging off the drilling of oil at the Kolmani field between Gombe and Bauchi states. He announced that there more oil discoveries process ongoing in the Anambra basin, lower Benue trough and other areas in the country.He explained that the oil discovery was born out of the new task on Nigerian National Petroleum Company (NNPC) to re-strategize and expands its oil and gas exploration footprints to the frontier basins of Anambra, Dahomey, Sokoto, Benue trough, Chad and Bida Basins. “Similar activities across the other basins are currently actively on-going,” Buhari said while stating that the project has so far attracted over $3 billion investments.“We are pleased with the current discovery of over 1 billion barrels of oil reserves and 500 billion Cubic Feet of Gas within the Kolmani area and the huge potentials for more deposits as we intensify exploration efforts.“It is therefore to the credit of this administration that at a time when there is near zero appetite for investment in fossil energy, coupled with the location challenges, we are able attract investment of over USD 3 billion to this project,” he stated.The President further disclosed that the Komani field comprises of upstream production, oil refining, power generation and fertilizer adding that as a fully integrated in-situ development project it promises many benefits for the nation. According to him, the benefits includes but not limited to Energy security, Financial Security, Food security as well as overall socio-economic development for the country.

Source link


Please enter your comment!
Please enter your name here