The Nigerian National Petroleum Corporation Limited (NNPCL) is to begin oil and gas exploration in Ogun State.
Under the arrangement, the State Government has received a delegation from the Federal Government in Abeokuta, the state capital.
On Friday, the state governor, Dapo Abiodun played host to the FG delegation comprising the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri; the Managing Director, Shell Petroleum Development Company Ltd, Mr. Osagie Okubor; Chief Executive, Nigeria Upstream Petroleum Regulatory Commission, Engr. Gbenga Komolafe and NNPC Group Chief Executive Officer, Mr Mele Kyari.
Speaking at the governor’s office in Abeokuta, Lokpobiri said Ogun State has always been part of the Dahomey Basin with the prospect of having a huge deposit of hydro-carbon.
“We decided that we are going to resume exploration in the different Basins; we decided to come to Ogun State to reassure the people that we have very high potential of discoveries here. Ogun has always been part of the Dahomey Basin and our presence underscore the seriousness the federal government attaches to the exploration activities that we want to carry out in Ogun State,” the minister said.
Lokpobiri said oil and gas remain the quickest way to Nigeria’s economic prosperity, stressing that his team is in the state in continuation of the campaign for exploration activities.
According to the minister, the visit was also to demonstrate the seriousness and commitment of the federal government to shore up its revenue through the oil and gas sector.
“Today we are here to tell the people of the federal government’s commitment to ensuring that we continue our campaign and exploration activities across the country. We are doing this exploration activities in several places across Nigeria and today we are in Ogun after which we will proceed to Sokoto State,” he added.
In his remarks, Governor Abiodun said Ogun State is part of the OPLs 302,303 306, 307, saying the acreages present unique opportunities for the qualification as a Frontier Exploration State as defined in the PIA section 9.
He stated that the history and studies over the years allow any investment under the frontier exploration basin funding to not only realize the oil and gas potentials, but also acquire data that would aid Bitumen exploration and exploitation in Nigeria.
“It is noteworthy that this is a region of the country that provides ease of access, low entry and operating costs, a safe and welcoming community and a very active state government support and participation,” he said.
“Ogun State therefore presents some unique opportunities towards the realization of the full intentions of the PIA section 9 on frontier exploration as it will contribute to guarantee additional petroleum production of additional petroleum products for the country and afford more supply to potential refineries in the area.
“As a low hanging result, this area also presents the opportunity for Bitumen extraction, thereby reducing import dependency and bringing with its savings in foreign exchange expenditure on this single line item.”
