By Eyo Nsima

Speaking virtually at the flag-off, President Buhari said: “We stopped drilling here in 1995 because the successes were weak, and findings were not commercial. We understood very clearly that we have to understand the Basin very well, we need to have a different approach to exploration activities in this Basin.

“That is why NNPC and her partner, the NUPRC, decided to embark on data review on all the frontier basins in the country and our findings have been useful.

Our understanding of the ridge system in Nigeria has enabled us to have successful outcomes in the Kolmani area and enabled us to mobilise to Nasarawa State. Now we are back here and we are much more confident, and we believe that this campaign will be successful.”

Similarly, the Chief Executive, Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Engr Gbenga Komolafe said the drill was expected to yield about 943 billion barrels of crude oil if successful, adding that the OPL 732 well is part of the Federal Government’s effort to boost Nigeria’s crude oil reserves from the current 37 billion barrels to 40 billion barrels by the year 2030.

Also, the Governor of Borno State, Prof. Babagana Zulum, noted that the project would have a positive impact on the socio-economic status of the state., promising that the state government and local communities would support the project.

However, the Executive Director, of Frontier Exploration Services, NNPC Limited, Mukhtar Zanna explained the drilling will reach a depth of 14km using the ACME rig, stressing that geologists have seen many potential reservoirs “and that’s what we are here to prove that the hydrocarbon here could be oil, gas or both”.

He added: “We are very optimistic (of finding hydrocarbons in commercial quantity) because we reviewed the data, and also deployed new technologies”.