Home Money Business Buhari determined to grow Nigeria’s oil reserves – Baru

Buhari determined to grow Nigeria’s oil reserves – Baru

baru
baru

Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, at the weekend, reiterated President Muhammadu Buhari’s commitment to growing Nigeria’s hydrocarbon reserves through the exploration of the various inland basins spread across the country.

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He made the assertion during an inspection tour of the ongoing drilling operations at the Kolmani River-II Well drilling site in Bauchi and Gombe States along with his successor, Mele Kyari.

He said: “Expanding frontier basins exploration is one of the most important projects for Mr. President. He is fully convinced that the inland basins exploration holds the key to the next step of growing Nigeria’s crude oil reserves,” Baru stated.

The GMD further observed that for an economy which is heavily dependent on hydrocarbon production, there was the need to continuously look for additional reserves to avoid depletion.

“Naturally, oil reserves deplete over time and if you don’t replenish them, you will one day wake up to realize that you have nothing left to explore from the ground,” Baru added.

He said the visit was part of the smooth transition going on in the Corporation which is aimed at fully briefing Mallam Kyari on the work progress at the drilling site.

“I cannot hand over the NNPC without bringing the new GMD here for him to appreciate the kind of activities going on at the area. I am well-briefed but he needs to be on top of developments here too. And from his comments and observations, I am convinced he has already keyed into the project as envisioned by Mr. President,” Baru noted.

He disclosed that the visit with the new GMD brought a good omen to the Kolmani exploration site as the team of explorers recovered a “fish” stuck in a well at the depth of 13,400 feet after about three days of tedious and continuous “fishing.”

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In drilling parlance, “fishing” is the process of retrieving an item stuck in a well in the course of drilling, while a “fish” is simply the recovered item.

Baru also lauded the professionalism of the exploration team in maintaining zero Loss Time Injury (LTI) during the operations.

He added that with the level of commitment and dedication he has seen on the part of the exploration team, he could not wait for Mr. President to light the first flame at the area, signifying the potential discovery of hydrocarbons.

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