NNPCL to Increase Oil Reserves to 50 billion Barrels.

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The Nigerian National Petroleum Corporation Limited declared on Tuesday that continued oil exploration in the country’s border basins will increase crude oil reserves from 37 billion barrels to 50 billion barrels.

Also, on Tuesday, the NNPC officially started drilling for petroleum at the Ebenyi-A Well in the Nasarawa State local government of Obi. The company said that this well would help it reach its goal of 50 billion barrels of oil reserves.

Four months ago, in November 2022, the NNPC began oil production at the Kolmani oil well, which is situated between the states of Bauchi and Gombe.

This is consistent with the commercial discoveries of hydrocarbons in the Kolmani Area of the Upper Benue Trough. The President said he was encouraged by the work done by NNPC Ltd to exploit the prospects in the Middle Benue Trough, leading to the event of Tuesday in Nasarawa.

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