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President Buhari inaugurates first oil project in Northern Nigeria

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Nigeria’s President Muhammadu Buhari on Tuesday, inaugurated the first oil and gas project in the northern part of the country, making it the first time Nigeria will be drilling for oil away from the south which has accounted for decades of production in the African oil giant.

The Kolmani oil field located in Gombe and Bauchi States in the North-East is estimated to have a reserve of over one billion barrels of crude, and according to the Presidency, has attracted “$3 billion in investment aimed at opening an oil refinery, a gas processing unit, a power plant and a fertilizer factory.”

“The successful discovery of the Kolmani Oil and Gas field by Nigerian National Petroleum Company Limited and her partners has finally broken the jinx after long efforts to find commercial oil and gas outside the established Niger Delta Basin,” an seater Buhari said at the inauguration.

The discovery of oil and gas in the arid northern region is a welcome development for Nigeria as it will, to a large extent, take away attention and concentration from the Niger Delta region in the South where there have been a lot of environmental degradation and pollution due to the activities of oil companies.

Despite over six decades of oil exploration in the south, most parts of the region are largely impoverished and while the international oil companies and government officials have fed fat on the huge profits generated, majority of the people have continued to live in abject poverty.

The Niger Delta region suffers from pollution and ecological disasters while thousands of the youths have resorted to militancy, piracy and setting up illegal refineries in the swampy creeks, stealing the crude oil from pipelines, refining it and selling it on the black market.

With the discovery of oil in the northeast, many Nigerians are hopeful that massive unemployment in the country will be addressed while the insecurity in the region will be curbed or brought to a reasonable level.

There are also concerns that banditry, kidnapping, terrorism and other criminal activities in the northeast wh in have continued to hamper the smooth mining of gold in Zamfara State which also in the region could affect the running of the oil fields but Buhari has assured that adequate security would be put in place to tackle all forms of criminality in the area.

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Israel-based oil and gas firm, NewMed, signs exploration deal with Morocco’s energy ministry

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Israel-based oil and gas firm, NewMed has signed a deal with Morocco’s energy and mining ministry and Adarco Energy for offshore natural gas exploration and production in Morocco.

NewMed made the announcement on Tuesday adding that it will collaborate with Adarco, and each will have a 37.5% stake in the Boujdour Atlantique licence.

NewMed CEO Yossi Abu said, “for a long time now we have recognised a huge potential in Morocco for collaborations in both the natural gas and renewable energy sectors.”

According to the deal, the remainder of 25% is granted to Morocco’s National Office of Hydrocarbons and Mines, in accordance with the Hydrocarbon Law of Morocco.

NewMed is the main stakeholder in Israel’s huge Leviathan offshore gas field and is looking to merge with Capricorn Energy to create a gas producer focused on Israel and Egypt.

Statista reports that in 2020, approximately 23.3 billion Moroccan dirhams (MAD) of gas and fuel oils were imported into Morocco. This was equivalent to 2.6 billion U.S. dollars and represented a decrease from the previous year when roughly 38.8 billion MAD (4.3 billion U.S. dollars) of oils were imported into the country.

Overall, Spain was the main trade partner in Morocco in terms of gas and fuel oil imports.

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Nigeria’s oil company, NNPC, signs separate gas pipeline deals with Ghana, Guinea, others

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Nigeria’s oil company, the NNPC have signed separate deals with the national oil companies of Ghana, Gambia, Guinea, Guinea Bissau and Sierra Leone in furtherance of the planned Nigeria-Morocco Gas pipeline project.

The Group Chief Executive Officer of the NNPC, Mele Kyari; highlighted the roles played by the participating countries to make the planned commencement of the project to fruition.

“Today, we will be attaining another feat by signing five MoUs with the national oil companies and relevant entities from Gambia, Ghana, Guinea, Guinea Bissau and Sierra Leone.

“From inception of the project to this stage, concerted efforts have been made by the governments of Nigeria and the Kingdom of Morocco, which led to the very commendable achievements recorded thus far.

“As the strategic vision of our great leaders gains momentum, I would like to express our appreciation to His Royal Majesty, King Mohammed VI of Morocco and His Excellency, President Muhammadu Buhari of Nigeria for entrusting NNPC Limited with this strategic project,” he stated.

He added: “NNPC Limited will facilitate the continuous supply of gas and provide other enablers such as the required land for the first compressor station to be deployed in Nigeria, which is among the 13 stations earmarked along the pipeline route.”

The Nigeria-Morocco gas pipeline mega-project had been first discussed during the official visit of King Mohammed VI of Morocco in December 2016 to President Buhari in Abuja.

Nigeria and Morocco signed MoU for the gas pipeline in September which would link Nigeria to Morocco as well as supply West Africa and Europe.

The Nigeria-Morocco gas pipeline mega-project had been first discussed during the official visit of King Mohammed VI of Morocco in December 2016 to President Buhari in Abuja.

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