NNPCL reaffirms commitment to northern oil exploration amid progress

The Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its commitment to crude oil exploration in Northern Nigeria, emphasizing its dedication to the Federal Government’s objectives in the frontier basins.

In a recent update, Chief Corporate Communications Officer Olufemi Soneye stated that NNPCL is intensifying efforts in these regions, underscoring the company’s strategic focus on expanding exploration activities.

Soneye highlighted ongoing drilling projects, including the Wadi-2 Appraisal/Exploratory Well in Borno State and the Ebenyi-1 Exploration Well in Nasarawa State, which aim to uncover commercially viable hydrocarbon deposits.

He also addressed rumors of a halt in exploration, clarifying that NNPCL remains fully engaged in its inland basins projects, with no plans to suspend operations.

The company’s efforts are aligned with the Petroleum Industry Act (PIA) 2021, ensuring that oil exploration continues efficiently and contributes to national energy security.

Soneye also noted that the discovery of significant hydrocarbon deposits in the Kolmani River II Well in the Upper Benue Trough highlights the potential for economic growth and increased oil production in the region.

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NNPCL’s leadership, under Chairman Chief Pius Akinyelure and Managing Director Mele Kyari, is focused on capturing economic opportunities and distributing the benefits of resource development equitably.

The company’s recent financial performance, including a record profit of N3.297 trillion in 2023, reflects its commitment to sustaining growth and value for investors and Nigerians.

Soneye assured that NNPCL will continue its exploration activities in the North, aiming to maintain and enhance its financial performance while contributing to the nation’s energy security and economic development.