More than two years after former President Muhammadu Buhari launched crude oil drilling project on the border of Bauchi and Gombe states, the Group Chief Executive of the Nigerian National Petroleum Company Limited, Bayo Ojulari, said that the energy firm would resume oil drilling in the northern part of the country.
Ojulari stated this in an interview with BBC News Hausa on Monday, urging residents of the region to exercise patience.
He assured that the drilling project in Kolmani at the boundary of Bauchi and Gombe states, when completed, will positively impact Nigerians.
In 2019, the national oil company announced the discovery of hydrocarbon deposits in the Kolmani River II Well on the Upper Benue Trough, Gongola Basin, in the north-eastern part of the country. In 2022, the government commenced oil drilling in the area in commercial quantities, the first in the region after several crude oil explorations in the Upper Benue Trough, saying it would attract foreign investment and generate employment for the people.
At the time, the government said over a billion barrels of oil and 500 billion cubic feet of gas were found within the Kolmani area of Bauchi and Gombe. It stated that the discovery had already attracted $3 billion in investment.
Raising hope on the continuation of the project, Ojulari stated that, alongside others, like the Ajaokuta-Kaduna-Kano (AKK) pipeline, the companies working on the projects will continue by next month.
He said, “NNPC will continue oil drilling in the Kolmani field and will continue the work on the AKK gas pipeline from Ajaokuta to Kaduna to Kano. The companies working on the projects will continue, and new ones are also welcome.
“We will continue with the oil drilling in Kolmani and other places. After the oil drilling, we will also ensure that we complete the gas pipeline from Ajaokuta to Kano,” Ojulari said.
According to him, these projects will allow previously closed companies to reopen so they can continue operating and open new ones. “This will bring benefits to the region, which will lead to everyone benefiting because wealth will increase. Therefore, we must return and continue this project,” he said.
On oil prices, Ojulari stated that the global crude crash had resulted in the country not receiving the revenue it had projected.
He said, “The budget was drawn with the prediction that if oil were sold, money would be available to be used for national development projects.” However, he added that efforts were on to reduce the operating cost in the oil business.
“If we can reduce the operation costs, it is possible that the income we will get from selling oil and gas will be enough for us,” he stated.
Ojulari also stated in the interview that he had started taking steps to end the disagreement between the NNPC and the Dangote Petroleum Refinery.
While acknowledging the rift that existed between the previous leadership of the NNPC and the Dangote refinery, Ojulari disclosed that efforts are ongoing to build a mutually-beneficial relationship between the two companies for the good of the nation.
The new CEO of NNPC said peace is returning between the two organisations, noting that Aliko Dangote made an effort, which he said was commendable.
“We sat down and talked about the conflict. From now on, we will work together to achieve progress as needed, so that people who seek fuel at filling stations can get it when they want it,” he said.
