President Buhari Set To Oversee The First Drilling Of Oil In Bauchi and Gombe States

Date: 20-11-2022 9:08 am (1 year ago) | Author: Daniel Bosai
- at 20-11-2022 09:08 AM (1 year ago)
Online (m)

President Muhammadu Buhari, will on Tuesday, supervise the first oil drill in oil fields located in Bauchi and Gombe States.

The ground-breaking ceremony of the Kolmani Oil Prospecting Lease (OPL) 809 and 810 at the Kolmani field site will be the first oil drilling in Northern Nigeria.

Oil was discovered in commercial volume in the region about two years ago.

While Nigeria is already exploring crude oil in the southern Niger Delta, this exploration up north will be the first after an attempt in the Borno region was halted by insecurity.

NNPC Limited since 2016 launched a search for oil in some Northern states which led to the discovery of the oil in commercial quantity in Bauchi, Gombe, Borno and Niger States.

According to officials at NNPC Ltd, the oil field in Bauchi and Gombe axis will developed by Sterling Global Oil, New Nigeria Development Commission (NNDC) and NNPC Limited.

“The ceremony will be held on Tuesday, 22nd November and will be attended by Mr. President himself together with most of his cabinet members including the Minister of State for Petroleum, Timipre Sylva,” an official said.

NNPC Ltd has continually spent on frontier exploration as captured in its FAAC report.

With the new Petroleum Industry Act (PIA) 2022, funding for frontier exploration has risen to 30 per cent, which means the reformer NNPC Ltd would have more fund to develop oil fields in Nigeria.

At the moment, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said crude oil reserve is at 37 billion barrels.

Reports said the Kolmani field holds over a billion crude oil reserve, which could significantly raise Nigeria’s oil reserve that has not grown in 10 years.

The oil discovery in the north is coming at a time when crude oil production in the south has dropped to about 1.2 million barrels per day mainly due to oil theft and vandalism.

Oil production in the north could be a backup to shore up revenue for Nigeria as it witnesses huge budget deficit so far, experts say.


Posted: at 20-11-2022 09:08 AM (1 year ago) | Addicted Hero
- Ashilex at 20-11-2022 10:42 AM (1 year ago)
(m)
First come, first serve.
Posted: at 20-11-2022 10:42 AM (1 year ago) | Upcoming
Reply
- Jiiitk4 at 20-11-2022 11:03 AM (1 year ago)
Online (m)
This may be another avenue of stealing. Billions of dollars will be budgeted for nothing. Oil is not and cannot be found in the North . These people have dubious ways of stealing. Rather than spend the money in discovering more oil in the oil rich South.  If truly oil has been found in the North get ready for agitation for boko haram or AREWA Republic.
Posted: at 20-11-2022 11:03 AM (1 year ago) | Gistmaniac
Reply
- gogoman at 20-11-2022 11:41 AM (1 year ago)
Online (m)
UP BUBU
Posted: at 20-11-2022 11:41 AM (1 year ago) | Grande Master
Reply
- Lisabi at 20-11-2022 06:27 PM (1 year ago)
(m)
The oil will belong to Gombe and Bauchi States while oil in the South will belong to Federal government just like Zamfara gold. Yoruba Nation now now
Posted: at 20-11-2022 06:27 PM (1 year ago) | Gistmaniac
Reply
- Lisabi at 20-11-2022 06:28 PM (1 year ago)
(m)
The oil will belong to Gombe and Bauchi States while oil in the South belong to Federal government just like Zamfara gold. Yoruba Nation now now
Posted: at 20-11-2022 06:28 PM (1 year ago) | Gistmaniac
Reply

fire TRENDING GISTS fire

TODAY'S TOP
  1. Nasarawa Police Arrest Fake EFCC Operatives For Alleged Robbery, Abduction, Recover Exhibits

  2. 30Yrs Old Video Of Nigerians On Fuel Queue Emerges Online

  3. Lady Accuses Veteran Actor Yemi Solade Of Sending Her Photos Of His Manhood On Facebook

  4. VIDEO: Girl In Tears As She Scores 289 In JAMB After Aiming For 300

  5. MAY 1st; Peter Obi Celebrates Nigerian Workers, Sends Message

  6. Water Corporation Deputy Director, Emeka Arraigned For ‘Defrauding Residents Of N150k’ In Enugu

  7. Actress, Eniola Ajao Opens Up On Why She Kept Her 21Yr Old Son Off Social Media

  8. VIDEO: Nigerian Lady Shows Off Naira Notes She Picked At Various Nightclub


THIS WEEK
  1. Nigerian Tenant Discovers Landlord With Wife & Daughter, Sparks Outrage Online (Video)

  2. Benin Kingdom Suspends Five Functionaries For ‘Unauthorised’ Visit To Ooni Of Ife

  3. Stop Lagos-Calabar Highway Project - Obi Tells Tinubu As Demolition of Landmark Centre Begins

  4. Lady Who Worked As A Maid In Saudi Arabia Narrates Her Harrowing Ordeal As Boss Impregnates Her

  5. GWR Holder, Tunde Onakoya's Parents Gifted A House

  6. I Will Reconcile Atiku And Wike If I Emerge PDP National Chairman – Suswam

  7. Investigation Launched Into Mysterious Death Of VGC Chairman, Gihan Mbelu In Lagos

  8. No More Big 3 In Afrobeat, I'm On Same Level With Wizkid, Davido And Burnaboy - Rema Reveals

  9. VIDEO: Singer, Davido Becomes First to Own The $500,000 2024 Rolls Royce Spectre

  10. Drama As Actress, Toyin Abraham Ajeyemi Clashes With Area Boys On Movie Set (Video)


TOP MEMBERS: