The President, Major General Muhammadu Buhari (retd.), on Tuesday, flagged off the oil drilling campaign in Wadi-B prospect, Chad Basin, Tuba Community, Jere Local Government Area, Borno State.
He said the flag-off had signaled the formal resumption of physical activities for the exploration of crude oil and gas in the Chad Basin area.
Buhari, who flagged off the drilling campaign virtually, said he was aware that crude oil and gas exploration activities had been ongoing in the Chad Basin since 1976, as well as the discovery of some commercial gas at Wadi-1 well in 1985.
“I am also aware that active drilling activities were suspended in 1995 to enable re-evaluation of exploration activities in the entire frontier basins.
“I am happy that the NNPC has since then conducted extensive analysis and the evaluation of all frontier basins leading to the successful drilling and discovery of crude oil and gas in commercial quantities in Kolmani River-2.
“It has also provided insight into the ongoing crude oil and gas drilling campaign in Nasarawa State, as well as the current re-entry activities into the Chad Basin,” Buhari stated.
The President noted that the consequential effect of the likely positive outcome of the Chad Basin exploration campaign was in increasing the national crude oil and gas reserves and production, enhancing national energy security and ensuring greater prosperity for Nigerians.
Buhari said he was looking forward to a successful drilling campaign in the Chad Basin through the collaborative efforts of the Nigerian National Petroleum Company Limited, Nigeria Upstream Petroleum Regulatory Commission, host communities, state and other partners.