President Muhammadu Buhari officially ensured the resumption crude oil and gas exploration activities in the Chad Basin area on Tuesday by launching the Wadi-B Drilling Well Campaign in Borno State.
Prof. Babagana Zulum, the governor of Borno represented the President at the inauguration event.
The Nigerian National Petroleum Company Limited (NNPC Ltd) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) are working together to manage the project.
Wadi-B Prospect (OPL 732) in the Chad Basin lies 50 kilometres from Maiduguri in the Tuba Community of Borno's Jere Local Government Area.
The project's seismic acquisition began in 1995, and its oil finding search was reported the following year but put on hold because of unrest.
According to him, exploratory efforts have been taking on in the Chad Basin since 1976, and the Wadi-1 Well's finding of some commercial gas amounts occurred in 1985 before it was put on hold in 1995.
He explained that this would enable activities for the entire Frontier Basins' petroleum system re-evaluation.
According to him, the NNPC Ltd. has subsequently carried out in-depth analyses in all frontier basins that have successfully led to the finding and drilling of crude oil and gas in commercial quantities in Kolmani River II in the states of Bauchi and Gombe.
He said that NNPC Ltd. also shared information about a drilling campaign in the Nigerian state of Nasarawa and ongoing exploratory efforts in the Chad basin, both of which he claimed would boost the country's reserves of crude oil and gas and improve its energy security.
While praising NNPC management, the President also praised the NUPRC for its cooperative efforts and pursuit of exploiting the hydrocarbon potentials of the nation's borders basin.
Malam Mele Kyari, Group CEO of NNPC Ltd., stated in a speech that the attempts to re-mobilize a drilling rig to the Chad Basin for the first time since the 1980s certainly highlighted President's visionary leadership.
“Today, we are honoured to have Mr President bring back hydrocarbon exploration activities to Chad Basin.
According to Kyari, the Wadi-B well was meant to assess the seven hydrocarbon reservoir depth levels that the Wadi-1 well encountered and to explore further hydrocarbon reservoir targets up to a total depth of four kilometres. It is therefore classified as an appraisal/exploration well.
In order to achieve commercial crude oil and gas finds, he pledged to conduct in-depth exploration of the Frontier Sedimentary Basins utilising the finest available standards and technology.
“As a commercial enterprise, NNPC sees this project as an opportunity to monetise our abundant hydrocarbon resources, by Expanding Access to Energy to support economic growth, industrialisation, and job creation across the country.
“Our renewed drilling campaign has a higher geological chance of making commercial discoveries of hydrocarbons as we are equipped with state-of-theart integrated geophysical datasets.
“Therefore, this is a spud-in event that will reinforce the government’s commitment for exploration in the Nation’s Frontier Basins, primarily aimed at increasing the nation’s hydrocarbon reserves,” Kyari said.
Kyari praised the governor of Borno for reaching this historic milestone and thanked the President for his visionary leadership.
According to NAN, the Wadi-B Well has a lot of potential, including a predicted total depth of 14,000 feet and the use of an ACME Energy Services rig with a 2000+ horsepower capability.
Numerous dignitaries, including the Chairman of the Board of NNPC Ltd., Sen. Margery Okadigbo, the Chief Executive of the Commission, the NUPRC,
Gbenga Komolafe, Dr Abubakar Umar, Chairman, Borno State Council of Traditional Rulers, Shehu of Borno, and others were also present.