Nigeria Launched First Oil Drilling Project in the North

SEATTLE (Oil Monster): Nigeria- the world’s leading crude oil producer, announced discovery and launch of its first oil drilling project in the north, after long years of exploration activities in the region. The commercial discovery has been reported after 62 years of oil and gas drilling activities.

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The announcement on discovery of hydrocarbon deposits in the Kolmani River II Well on the Upper Benue Trough, Gongola Basin was made by the Nigeria National Petroleum Corporation Limited (NNPC). According to NNPC, the oil wells-OPLs 809 and OPL 810, will be jointly developed by Sterling Global Oil, New Nigeria Development Commission (NNDC) and NNPC Ltd.

The current discovery unveils one billion barrels of oil reserves and 500 billion cubic feet of gas. The exploration activities will be intensified, which in turn is expected to uncover more deposits in the region.

Simultaneously, President Buhari flagged off the Kolmani Integrated Development Project, comprising upstream production, oil refining and power generation. The project is touted to bring significant energy security, financial security, apart from delivering overall socio-economic development of the country. It is considered as another vital pillar in the country’s economic architecture, Buhari added.