Tue, Jan

President Buhari Flags-Off Oil Mining Project

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President Muhammadu Buhari and relevant stakeholders flagged off the Kolmani Integrated Development Project (KIPRO) located on the boundary of Bauchi and Gombe States, the first official crude oil drilling site in the Northern region of the country. The President performed the official-ground breaking ceremony of the Kolmani Oil Prospecting Lease (OPL) 809 and 810 at the Kolmani River II Oil Well.

In 2019, the Nigerian National Petroleum Company (NNPC) Limited announced the discovery of crude oil, gas, and condensate in commercial quantity in the region.

According to NNPC officials, the oil field will be developed by Sterling Global Oil, New Nigeria Development Commission (NNDC), and NNPC Limited.

The President said, "This discovery had emanated from our charge to the NNPC to re-strategize and expand 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 actively ongoing.

"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 potential for more deposits as we intensify exploration efforts. It is therefore to the credit of this administration that at a time when there is ner zero appetite for investment in fossil energy, coupled witht he location challenges, we are able to attract investment of over $3 billion to this project."

Those in attendance are the Senate President, Ahmed Lawan; Group CEO of the NNPC Limited, Dr. Mele Kyari; Governors of Bauchi, Gombe, Plateau, Kebbi, Jigawa, Sokoto, and Yobe States, amongst other dignitaries.

More details shortly.