NNPC finds ‘significant oil’ in Nasarawa

The Nigerian National Petroleum Company Limited has said it is set to spud the first oil well in Nassarawa state in March 2023, in continuation of its oil exploration activities in the country’s inland basins.

The Group Chief Executive Officer of the company, Mele Kyari, disclosed this when the Governor of the state, Abdullahi Sule, led a delegation of prominent indigenes of the state on a courtesy visit to the NNPC Ltd. in Abuja, according to a statement on Friday.

He said results of exploratory activities confirm the presence of “substantial hydrocarbon resources in the state”.

He called for prompt action on the project as the global energy transition has led to a reduction in investment in fossil fuels.

“This work must be done very fast because the whole world is walking away from fossil fuel due to energy transition, the earlier you go to market, the better for you, otherwise, ten years from now, no one will agree to put money in petroleum business except it comes from your cash flow,” he said.

Kyari added that community support and a conducive environment are key to a successful operation in the area in order to avoid the experience of the Niger Delta.

In his response, the governor congratulated Kyari on the successful commencement of oil production and the Kolmani Integrated Development Project, which was launched in November 2022 by President Muhammadu Buhari, which he described as similar to what obtains in Saudi Arabia.

“I want to congratulate you, the management of NNPC and the Federal Government for what you have done at Kolmani, for those who don’t know what you have done for Nigeria, you have written your name in gold.’’ he said.

He commended President Buhari for his support while assuring the NNPC of a conducive environment.