Nigerian National Petroleum Company Limited (NNPC) is set to resume oil drilling in northern Nigeria, over two years after the project was initiated by former President Muhammadu Buhari.
Gatekeepers News reports that Bayo Ojulari, the Group Chief Executive of NNPC, disclosed this during an interview with BBC News Hausa, urging local residents to remain patient and expressing confidence that the project will yield positive benefits for Nigerians.
The drilling project, located in Kolmani, on the border of Bauchi and Gombe states, is expected to attract foreign investments and create jobs for local communities. According to Ojulari, the project will bring benefits to the region, leading to increased wealth and economic growth.
“We will continue with the oil drilling in Kolmani and other places. After the oil drilling, we will also ensure that we complete the gas pipeline from Ajaokuta to Kano,” Ojulari said. “This will bring benefits to the region, which will lead to everyone benefiting because wealth will increase.”
The NNPC had previously declared the discovery of hydrocarbon reserves in the Kolmani River II Well in 2019, with estimated reserves of over a billion barrels of oil and 500 billion cubic feet of gas. The project had attracted approximately $3 billion in investments before it was halted.
Ojulari also discussed the challenges posed by the global crude oil price crash, which had resulted in the country not receiving the projected revenue. However, he expressed optimism that reducing operating costs in the oil business could help increase revenue.
On the dispute between NNPC and Dangote Petroleum Refinery, Ojulari stated that efforts were ongoing to build a mutually-beneficial relationship between the two companies.
“We sat down and talked about the conflict. From now on, we will work together to achieve progress as needed, so that people who seek fuel at filling stations can get it when they want it,” he said.
