Find oil in the Northeast, Buhari orders NNPC

President Muhammadu Buhari has given the Nigerian National Petroleum Corporation, NNPC, the marching order to find crude oil in the north eastern part of the country.

This was disclosed by the Group Managing Director of the NNPC, Mr. Maikanti Baru, when he received the governor of Bauchi State, Mohammed Abubakar, in his office in Abuja on Monday.

The NNPC GMD, who also lamented the current economic situation in the country, said the NNPC currently has exploration activities going on in the frontier basin in Chad and also in some areas close to the Kolmani River, located in Bauchi State, where Shell had made some indicative discovery of hydrocarbons.

According to Baru, President Buhari has directed the NNPC to go into that area to improve and further explore the magnitude and prospect of those finds, adding that in line with the presidential directive, the NNPC is currently taking steps to re-strategise and get into those regions to step up crude oil exploration activities.

“We will reinvigorate the Frontier Exploration Services and see how they collaborate with the Northern Nigeria Development Company, NNDC,
that is holding block 809 where some of the finds have been found and also the Department for Petroleum Resources, DPR, for the other blocks that have not been assigned,” Baru added.

Read also: Falling oil prices, militants cause N1.064trn shortfall in Nigeria’s budget projections

Speaking the economic situation in the country, Baru said the various attacks on oil and gas assets across the country is making it difficult for the corporation to meet its financial obligations to the country.

He said: “It is a very difficult time for us with all the leakages that we suffer, especially infractions on our infrastructure in terms of pipeline vandalism and theft to be able to meet our obligations to the Federation Account Allocation Committee, FAAC.

“We will continue to meet this obligation timely and effectively as much as possible.” He, however, stated that the NNPC is committed to collaborating with the Bauchi State Governor and with other state governors to drive all the initiative that will fulfill the national aspiration expected from petroleum industry, especially in the energy security.”

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