Crude Oil Found in Benue Trough is in Commercial Quantity – NNPC

NNPC Renews OML 118 With Shell, Others

The Nigerian National Petroleum Corporation (NNPC) has stated that its crude oil discovery in Benue State is in commercial quantity.

The corporation reported in October last year that it discovered hydrocarbon deposits in Kolmani II Well on the Upper Benue Trough, Gongola Basin, in the north-eastern part of Nigeria.

The Group General Manager, Group Public Affairs Division, Kennie Obateru stated that exploration activities in the trough are being spearheaded by Nigerian geologists.

NNPC reiterated its drive to grow the country’s hydrocarbon reserves to 40 billion barrels through reinvigorated exploratory activities in the inland frontier basins across the nation. 

The Group Managing Director, Mele Kyari stated that the corporation will aggressively explore for more oil in the frontier basins in order to grow Nigeria’s reserve base in line with the federal government’s aspiration to hit the 40 billion barrels reserve target.
work to expand 
The NNPC boss said the main aspiration of the corporation is to expand the country’s hydrocarbon reserves, cut the unit operating cost of crude oil production to $10 per barrel and improve efficiency across its businesses.

“It is my pleasure to appreciate the good work and resilience of our in-house professionals in the ongoing inland basins exploration activities that culminated in the recent discovery of hydrocarbons in Benue Trough,” he said.

“NNPC is indeed proud that it is the Nigerian Association of Petroleum Explorationists (NAPE) members that are spearheading this effort.”

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Victor Okeh is a graduate of Economics from Lagos State University. He is versatile in reporting business and economy, politics and finance, and entrepreneurship articles. He can be reached via – [email protected]

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