NNPC to start oil exploration in Ogun

June 1, 2024

The Ogun State government has announced its readiness to join the ranks of oil-producing states as the Nigerian National Petroleum Corporation (NNPC) Limited is set to commence exploration of oil and gas in the state.

This was disclosed in a statement through the official X handle of the state government after a meeting between the state government and key stakeholders in the oil and gas sector, including the Minister of State for Petroleum Resources, Heineken Lokpobiri.

Other stakeholders include SHELL Managing Director Osagie Okubor, NUPRC Chief Executive, Gbenga Komolafe; and NNPCL Group CEO, Mele Kyari.

The visit by the stakeholders to the state was said to discuss federal plans for exploration in the Dahomey Basin, which stretches from the Niger Delta to Ghana and includes Ogun State.

The statement reads, “Minister Lokpobiri emphasized Ogun State’s potential in the Dahomey Basin, highlighting the federal government’s commitment to exploration activities as a means to boost Nigeria’s economic prosperity through oil and gas. NNPCL’s Mele Kyari assured that exploration would commence earnestly, expressing confidence in discovering commercial quantities of oil. NUPRC’s Gbenga Komolafe noted the synergy with NNPCL to leverage the Petroleum Industry Act (PIA) for aggressive exploration efforts, which aim to grow Nigeria’s oil reserves and enhance federation revenue.

“Governor Dapo Abiodun welcomed the initiative, noting that Ogun State’s inclusion in OPLs 302, 303, 306, and 307 offers unique opportunities under the Frontier Exploration Fund. He highlighted the region’s potential for both oil and bitumen extraction, which would reduce import dependency and save foreign exchange. Abiodun pointed out the state’s advantages, including ease of access, low operating costs, and strong government support, positioning Ogun for commercial success and economic benefits from the upcoming exploration activities.”

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