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Bauchi, Gombe Fight Over New Oil Wells

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Bauchi, Gombe fight over new oil wells

Money Land Forum / News / Bauchi, Gombe fight over new oil wells (1 Post | 55 Views)

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Bauchi, Gombe fight over new oil wells by ayodeji11(m) : 5:24 am On Dec 05, 2022



As both Bauchi and Gombe states have begun laying claims on the oil wells, it appears that a crisis is brewing about Kolmani's ownership.

Residents and officials from both states also accuse each other of trying to take over the site, which is believed to have one billion barrels of crude oil reserves and 500 million standard cubic feet of natural gas.

The development is coming barely two weeks after the President, Major General Muhammadu Buhari (retd. ), inaugurated oil exploration at the Kolmani oil field by the Nigeria National Petroleum Corporation Limited and its joint venture partners.

Kolmani in North-East Nigeria reportedly has oil in commercial quantities with Oil Prospecting Licences 809 and 810, cutting across Kolmani One, Two, Three, Four, and Five.

Speaking during the event, Buhari disclosed that the project has attracted over $3bn in investments so far.

The president said, “We are pleased with the current discovery of over 1b barrels of oil reserves and 500 billion Cubic Feet of Gas within the Kolmani area and the huge potential for more deposits as we intensify exploration efforts.’’

“It is, therefore, to the credit of this administration that at a time when there is near zero appetites for investment in fossil energy, coupled with the location challenges, we are able to attract investment of over $3bn to this project,” he added.

Buhari noted that the governors of Bauchi and Gombe states had given assurances of their unwavering commitment and willingness to ensure support and cooperation in the localities.

However, the governors’ assurances seemed to have been forgotten as the two states declared that they were the rightful owners of the oil-rich field.

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