Nigeria's state-owned NNPC Ltd on Tuesday started drilling for oil and gas at a field in northern Nigeria that has reserves of 1 billion barrels, as the country seeks to produce crude outside the Niger Delta for the first time.
NNPC said in a statement that phase one of the Kolmani project in the northeast would have an oil refinery, gas processing unit, 300-megawatt power plant and fertilizer plant producing 2,500 tonnes a day
President Muhammadu Buhari said Kolmani had 1 billion barrels of oil reserves and 500 billion cubic feet of gas. "It is therefore to the credit of this administration that at a time when there is near zero appetite for investment in fossil energy, coupled with the location challenges, we are able attract investment of over $3 billion to this project," Buhari said at a ceremony to start the oil project.
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