Oil Exploration: Hydrocarbon Reserves to Hit 50bn Barrels -NNPC

The Nigerian National Petroleum Company Limited (NNPC Ltd) says the positive outcome of Ebenyi-A Exploration Well will increase Nigeria’s hydrocarbon reserves from 37 billion barrels to 50 billion barrels.

The NNPC Ltd said the outcome of the campaign would contribute to the aspiration of increasing Nigeria’s crude oil production to a target of three million barrels.

Malam Mele Kyari, the Group Chief Executive Officer, NNPC Ltd, made this known on Tuesday at the presidential spud-in ceremony of the Ebenyi-A Exploration Well, located in the Middle Benue Trough in Obi Local Government Area of Nasarawa State.

Host Gov. Abdullahi Sule and the NNPC Ltd GCEO performed the spud-in ceremony on behalf of President Muhammadu Buhari.

The Commission’s Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe; retired Justice Sidi Bage Muhammad, the Emir of Lafia, and some other dignitaries were also in attendance.

Kyari said it was a special occasion for the NNPC Ltd, NUPRC, Nasarawa people and Nigeria as spudded the first well in the Middle Benue Trough, while at the same time executing Mr President’s mandate for them to pursue exploration in the frontier inland Basins with vigour.

He said the mandate no doubt targeted growth of hydrocarbon reserves in our country with the ultimate aim of enhancing national energy security and associated economic benefits to our people.

Kyari recalled that exploration in the Middle Benue Trough commenced over a decade ago, adding that since 2010 it had executed several geophysical activities, applied niche technologies and conducted a very integrated study leading to the firming up of the Ebenyi-A Well.

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

He said that NNPC Ltd, in conjunction with the NURPC, is committed to conducting exploration activities of the nation’s frontier Basins using the best industry standards and technologies.

According to him, the basin spans the Chad Basin, Upper and Lower Benue troughs, the Bida Basin, the Sokoto basin, Dahomey, Anambra platform, the Calabar embarkment and the Ultra deepwater Niger Delta.

He disclosed that mobilisation for re-entry into the Chad Basin has commenced as directed by Buhari as it progressed other activities in the Frontier Basins.

Kyari assured the stakeholders that it would conduct the operation with the utmost care and attention 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 the 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 thanked the President for his leadership, a direction in making this a reality and acceptance to perform the spud and kick-start the Ebenyi-A drilling campaign.

He thanked its client, NURPC-the Commission Chief Executive and the NUPRC team for their support and continued partnership.

He also commended the Nasarawa state government and citizens, royal fathers, and security agencies for their uncommon understanding and support of the project.

Besides, he appreciated the members of its dedicated team of professionals who had worked tirelessly and broke the jinx around oil and gas exploration in the rift system of Nigeria. #Oil Exploration: Hydrocarbon Reserves to Hit 50bn Barrels -NNPC