Buhari Flags Off Oil Drill

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The President of Nigeria, Muhammadu Buhari has eventually flagged off the spud-in of Kolmani River-II Well in Gongola Basin of Upper Benue Trough.

President Buhari, while performing the flag off ceremony, noted that oil and gas is very important to the  survival of the country,  despite  the diversification of the nation’s economy by his administration as well as the dwindling oil price at the international market.

The President also said that the event  showed that the current administration is up to the task to ensure that it keeps  all the promises  made to Nigerians. The president also noted that the administration is working towards a  sustained effort in oil exploration in all the frontier basins in the country, adding that when a country is  balanced in  resource distribution, it is prepared for industrialization.

Similarly, the Group Managing Director of NNPC, Maikanti Baru, said the project shows the dedication of Buhari administration to expand the hydrocarbons reserve base of the country.

He also noted that the  NNPC  is ready to resume oil exploration in the Chad basin as soon as the military grants the  permission in view of the insurgency activities in the area stressing that  oil exploration is time consuming because of the processes involved.