Nigeria To Earn N32tr From North’s New Oil Fields

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Nigeria may be in for another breakthrough in oil exploration as the first of such activities debut in the North on the Kolmani River range spanning Bauchi and Gombe states with fresh 1 billion barrel oil reserves generating over N32 trillion when developed.

9News Nigeria, at the weekend, confirmed from multiple sources at the Nigerian National Petroleum Company Ltd (NNPC) that President Muhammadu Buhari will on Tuesday supervise the first oil drilling in the North. The development is historic for Nigeria, with the country now boasting crude oil reserves in both its southern and northern parts.

An official said that the oil finding activity would be the first major oil exploration since NNPC transformed into a commercially viable entity.

Drilling on the Kolmani Oil Prospecting Licence (OPL) 809 and 810 at the Kolmani field sites in Bauchi and Gombe will be the first oil drilling in Northern Nigeria after oil discovery in commercial volume was announced nearly two years ago.

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