Nasarawa Oil Exploration Will Increase Nigeria's Oil Reserves, Says NNPC Ltd

The Nigerian National Petroleum Corporation Limited (NNPC Ltd) has said that the Ebenyi-A Exploration Well will result in an increase of Nigeria's hydrocarbon reserves from 37 billion barrels to 50 billion barrels.

The NNPC Ltd claimed that the campaign's outcome will help Nigeria reach its goal of three million barrels per day of crude oil production.

At the presidential spud-in ceremony for the Ebenyi-A Exploration Well, which is situated in the Middle Benue Trough in the Obi Local Government Area of Nasarawa State, Malam Mele Kyari, the Group Chief Executive Officer of NNPC Ltd, said this on Tuesday.

President Muhammadu Buhari was represented at the spud-in ceremony by the host governor, Abdullahi Sule, and the chief executive officer of NNPC Ltd.

The Emir of Lafia, retired Judge Sidi Bage Muhammad, and Gbenga Komolafe, the Chairman of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), were also present.

As the first well in the Middle Benue Trough was spudded, Kyari said it was a momentous event for the NNPC Ltd, NUPRC, the Nasarawa people, and Nigeria.

They were also carrying out the President's directive to vigorously pursue exploration in the frontier interior Basins.

In order to improve national energy security and the related economic advantages to our people, he added, the mission undoubtedly focused on growing hydrocarbon reserves in our nation.

The Middle Benue Trough has been the subject of exploration for more than ten years, according to Kyari, who also noted that since 2010, numerous geophysical activities, the use of specialised technologies, and the completion of an extremely comprehensive study have all contributed to the Ebenyi-A Well's firming up.

“Indeed, our findings are very indicative of potential commercial hydrocarbon discovery in this area,” the NNPC Ltd GCEO said.

He said that the NNPC Ltd and the NURPC were dedicated to carrying out exploratory activities in the border Basins of the country utilising the finest practises and technology available.

The Chad Basin, Upper and Lower Benue Troughs, Bida Basin, Sokoto Basin, Dahomey, Anambra Platform, Calabar Embargo, and the Ultra Deep Water Niger Delta are all included in the basin, in his estimation.

He said that, while other activities in the Border Basins advanced, mobilisation for re-entry into the Chad Basin had started as ordered by Buhari.

The stakeholders received assurances from Kyari that the operation will be carried out with the greatest caution and respect to health, safety, and the environment.

“We understand the responsibility that comes with exploring and exploiting natural resources, and we are committed to doing so in a way that will best benefit our country and its people.

“As NNPC Ltd we are committed to leading practices and highest standards in the course of our operations and would be engaging in Impact Assessment studies during and after operations to mitigate possible effects of our exploration activities.

“We will also engage the host communities as major stakeholders and execute Community Assisted Projects in line with NNPC Ltd Corporate Social Responsibility policies and provisions of the Petroleum Industry Act (PIA)."

He complimented the President for his vision, leadership, and approval to carry out the spud and launch the Ebenyi-A drilling programme.

He expressed gratitude to its client, the chief executive of NURPC-the Commission, and the NUPRC staff for their assistance and ongoing collaboration.

He also expressed his gratitude to the people of Nasarawa state, the royal fathers, and the security services for their unusual understanding and assistance with the initiative.

In addition, he was grateful to the team's hardworking specialists who had broken the curse on oil and gas exploration in Nigeria's rift system by working nonstop.