By Cross Udo
President Muhammadu Buhari yesterday stated that the successful discovery of Kolmani Oil and Gas Field by the Nigeria National Petroleum Corporation (NNPC) and partners in Bauchi and Gombe states has broken the jinx of oil discovery in upper Benue Trough apart from the Niger Delta.

Buhari stated during the flag-off ceremony of the Kolmani Integrated Development Project KIPRO of Oil Prospecting Licenses OPLS 809 and 810 at the Kolmani Field Site, which was held at Barambu community in Alkaleri local government area of the state, said that efforts to find commercial oil and gas in the established Niger-Delta River Basin were attempted for many years without the desired result.

Recall that in 2016, the Nigeria National Petroleum Company (NNPC) Limited launched a search for oil in some Northern states. The search led to the discovery of the oil in commercial quantities in Bauchi, Gombe, Borno, and Niger states.

He said that the NNPC has re-strategized and expanded its oil and gas exploration footprints to the front-yard basins of Anambra, Dahomey, Sokoto, Benue through, and Chad River Basins, adding that similar activities across other River basins are currently ongoing.

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“We are pleased with the discovery of over a billion crude oil reserves and 500 Billion Cubic litres of liquid gas within the Kolmani fields as well as the huge potential for more deposits as we intensify exploration efforts.

“It is good to note that the discovery has now attracted Investments for an end-to-end integrity development and Money taxation of the hydrocarbon resources.

“The project promises many benefits for the nation, this include but not limited to energy security, financial security, food security as well as an overall social economic development, considering the location and the huge capital requirements, the economics of the project is a challenging proposition.

“Consequently, I implore NNPC to utilize and leverage their vast asset and portfolio across all corridors of this operatives to advertise the project to attract the needed Investments. I have directed NNPC to continue along these lines.”

In his speech, the Group Managing Director NNPC Mele Kyari thanked the President for his doggedness amidst economic turmoil in ensuring the success of the flagging up of the oil rig and said the region would open up the socio-economic development of the country.

*’Projects already attracted over $3bn investment in fossil energy’

Meanwhile, Buhari yesterday declared that his administration attracted over $3bn investment in the oil and gas sector at a time of near-zero appetite for investment in fossil energy.

Buhari said, “Considering the landlocked location and the huge capital requirement, the economics of the project is a challenging proposition. Consequently, from the outset, I instructed NNPC Limited to utilise and leverage its vast asset portfolio across all corridors of its operations to de-risk the project to attract the much-needed investment.

“It is therefore to the credit of this administration that at a time when there is near zero appetites for investment in fossil energy, coupled with the location challenges, we can attract investment of over $3bn to this project.”

In his remarks, Minister of State for Petroleum Resources, Timipre Sylva, who recalled his relationship with the project, expressed his delight to be associated with the project as Minister having worked with a former Minister of Petroleum Resources when NNDC won the oil prospect lease being flagged off Tuesday.

Also speaking at the event, the Group CEO NNPCL, Mele Kolo Kyari, noted that the search for oil and gas in the frontier basins of Chad, Sokoto, Anambra Platform, Calabar Embarkment, Benue Trough, Dahomey, Bida, and the Ultra-Deepwater Niger Delta had spanned decades without significant outcomes.

“However, the singular determination of Mr President to ensure optimum exploration and exploitation of our natural resources and Your Excellency’s consequential directives for NNPC Limited to strategize and utilize available human, technological, and other material resources to prosecute exploration activities in all Frontier Basins resulted in the discovery of commercial oil and gas deposits in the Kolmani Prospect in April 2019,” Kyari added.

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*Tinubu: I will recharge Lake Chad, continue exploration works in frontier basins

The presidential candidate of the All Progressives Congress (APC), Bola Tinubu, has promised to continue exploration works in all frontier basins in the country and particularly recharge Lake Chad.

He spoke yesterday at the ground-breaking ceremony for oil drilling at Kalmani Area of Gongola Basin now located between Bauchi and Gombe states.

Presided over by President Muhammadu Buhari, the ceremony was the first oil drilling project in the Northern part of the country.

Tinubu commended the president for what he called a historic achievement, saying he had always believed every part of the country is richly blessed and should be supported to fully develop its potential and contribute to national prosperity.

He said, “The effort to find hydrocarbon deposits in our frontier basins has now paid off. The successful delivery of this project will elevate energy security for the country, and promote economic growth and prosperity for all our people.

“I would like to commend President Buhari and the NNPC team for being steadfast and for the hard work.”

He assured the entire country that he is committed to the good works that the present administration had started and brought about their full realisation.

“To ensure overall energy security and resource mobilisation for our country, if elected, we shall continue the ongoing exploration works in all frontier basins in line with the new Petroleum Industry Act of 2021.

“We will intensify oil search on Borno Basin, Sokoto Basin, Bida Basin, Anambra Basin, and other basins.

“Mr President, I join you in anticipation of the full delivery of the projects and other projects of this nature in the future.”