Business
NNPC discovers oil in Nasarawa, to drill first well in March
The Group Chief Executive of the Nigerian National Petroleum Company Limited (NNPC) Limited, Melee Kyari, said on Friday the company has discovered oil in Nasarawa State.
Kyari, according to a statement issued by the company’s spokesman, Garba-Deen Mohammad, stated this when the Nasarawa State Governor, Abdullahi Sule, led a delegation of prominent indigenes from the state on a courtesy visit to the NNPC headquarters in Abuja.
He said the discovery was the result of exploratory activities that confirmed the presence of substantial hydrocarbon resources in the state.
The NNPC chief revealed the company would spud the first oil well in the state in March.
He called for immediate action on the project as the global energy transition had led to a reduction in investment in fossil fuels.
READ ALSO: Nasarawa to join oil producing states?
“This work must be done very fast because the whole world is walking away from fossil fuel due to energy transition. The earlier you go to market, the better for you.
“Otherwise, 10 years from now, no one will agree to put money in the petroleum business except it comes from your cash flow,” Kyari said.
The NNPC had in 2019 announced the discovery of crude oil in the Kolmani River region, a border community between Bauchi and Gombe States.
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