Cautious Optimism Greets Oil Discovery In Gongola Basin

Exciting as the news of the discovery of hydrocarbon deposits in the Kolmani River II Well on the Upper Benue Trough, Gongola Basin may be, stakeholders, yesterday, insisted that the development would only be meaningful after the volumetric of the hydrocarbon is determined.
They equally noted that festering insecurity, environmental issues, dearth of infrastructure and cost of production were major factors that must also be taken into account, just as economically viable farmlands, as well as communities may be affected and relocated.
Exploring the many implications of the development, some industry players noted that the development is also capable of dousing agitations of the Niger Delta region, hoping that it would balance resource locations in the country.
Exciting as the news of the discovery of hydrocarbon deposits in the Kolmani River II Well on the Upper Benue Trough, Gongola Basin may be, stakeholders, yesterday, insisted that the development would only be meaningful after the volumetric of the hydrocarbon is determined.
They equally noted that festering insecurity, environmental issues, dearth of infrastructure and cost of production were major factors that must also be taken into account, just as economically viable farmlands, as well as communities may be affected and relocated.
Exploring the many implications of the development, some industry players noted that the development is also capable of dousing agitations of the Niger Delta region, hoping that it would balance resource locations in the country.
The Nigerian National Petroleum Corporation (NNPC), which announced, on Friday, the discovery of crude oil and gas in the Gongola Basin, northern Nigeria, noted that the commercial viability of the discovery coming from the drilling of a total depth of 13, 701ft before hitting oil and gas in several levels is yet to be ascertained.