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Oil Production In Nasarawa Will Set Nigeria On Growth Path- Buhari

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President Muhammadu Buhari has conveyed his optimism that the identification and extraction of oil in Nasarawa State will result in increased prosperity for the Nigerian people and improve the nation’s energy security in general.

In a virtual address, the President stated that the communities in the vicinity would especially profit from the value generated by the exploration and subsequent production operations.

Furthermore, the President instructed the Nigerian National Petroleum Corporation, NNPC, and its associates to consider the environmental repercussions of the oil exploration operations and to reduce the harmful impacts.

The President recollected that the official launch of drilling operations in the Middle Benue Trough aligned with the ongoing efforts to explore crude oil and gas in Nigeria’s Frontier Basins.

He mentioned the Chad Basin, Dahomey Basin, Anambra Platform, the Calabar Embankment, Sokoto Basin, Bida Basin, Benue Trough, and the Ultra-Deepwater Niger Delta as regions where NNPC is expanding crude oil exploration.

‘‘This is consistent with the commercial discoveries of hydrocarbons in the Kolmani Area of the Upper Benue Trough.

‘‘I am pleased to note that activities are currently ongoing to develop the Kolmani petroleum discoveries to commercial production to add to the nation’s considerable hydro-carbon assets.

‘‘I am encouraged by the enormous work done by NNPC Limited to exploit the prospects in the Middle Benue Trough, leading to the event of today”.

‘‘I congratulate NNPC Limited, the Nigerian Upstream Petroleum Regulatory Commission and other partners for their immense contributions towards making this day and this event possible,’’ he said, directing Governor Abdullahi Sule of Nasarawa State and Group CEO, NNPC Limited, Mele Kyari to spud on his behalf. The oil discovery in Nasarawa is set to boost Nigeria’s OPEC production quota once operational. The country has suffered economic losses in recent times and is set to reposition itself as a major player in the global oil market. It is quite unclear to ascertain the impact of this discovery on the prices of AGO/MGO.

Source:  Oriental News, Daily Post

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