NNPC discovers crude oil in commercial quantity in Benue Trough

- As the NNPC continues to explore for more crude oil, it has been found in commercial quantity in Benue Trough

- A statement from NNPC on Thursday, November 19, revealed that Kyari made the disclosure while delivering a goodwill message

- The corporation applauded its in-house professionals spearheading the explorations

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The Nigerian National Petroleum Corporation (NNPC) has announced the discovery of oil in commercial quantity in the Benue Trough.

In a report by Daily Trust, Malam Mele Kyari, the Group Managing Director (GMD) of NNPC disclosed this while delivering a goodwill message at the opening ceremony of the 38th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE).

A statement released by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, on Thursday, November 19, quoted the GMD as saying NNPC's strategy is to aggressively explore for more oil.

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He went on to note that this is in order to grow the nation’s reserve base, in line with the Nigerian government’s aspiration to hit the 40billion barrels reserve target.

Kyari reiterated NNPC’s resolve to grow Nigeria's hydrocarbon reserves through reinvigorated exploratory activities in the inland frontier basins.

The GMD who appreciated the good work and resilience of in-house professionals in the ongoing inland basins exploration activities said it built up to the recent discovery of hydrocarbons in Benue Trough.

According to him, the corporation is proud of the members of NAPE who are spearheading the effort.

Meanwhile, Legit.ng had reported that the minister of state for petroleum resources, Chief Timipre Slyva, said that about one billion barrels of Crude oil had been discovered in the northeastern part of Nigeria.

According to him, a lot of oil is yet to be found in the country. He added that there was a need for more exploration in the country as more oil would be discovered.

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In a related development, Nigerians might be in for a hard time as the nation's economy is under serious pressure.

This is as a result of the poor earnings from oil and non-oil sectors. According to the minister of state for petroleum resources, the earnings for the country have dropped by 60%.

The minister made this known to journalists after a closed-door meeting with President Muhammadu Buhari at the State House, Abuja, on Monday, November 16.

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Source: Legit.ng