FG to embark on petroleum exploration in Kogi

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri has vowed to embark on petroleum exploration in Kogi State.

Once the exploration shows State bears crude oil in commercial quantity, it will become beneficial to the people.

He made this known when Governor Usman Ododo led a delegation on an official visit to the ministry in Abuja.

“What we need to do is to do the requisite exploration work, and once we find, you know, oil in good commercial quantity, you know, Kogi can now have their own, and then partner with, you know, with the operators, or trade them, you know, for the benefit of the people of Kogi,” he said

The Minister said it is part of the Federal Government policy to encourage exploration, noting that Kogi State cannot be an exception.

According to him, there is high likelihood of striking oil in commercial quantity in the state as all the neighbouring countries that never had oil have struck it.

The Minister said: “According to the PIA, there’s not money available that government can use to do these seismic exploratory activities that will enable us to increase our reserves, not only in crude oil, but also in gas.

“And so, I want to assure you that there’s funding that’s available for that purpose, and government is committed to ensuring that we do that for the overall strategic national interest of Nigeria. That I can assure you.”

Lokpobri said the best way to boost national earnings is to ramp up crude oil production to as high as 2.4 million barrels per day in the next few months.

He vowed to work in partnership with the state to contribute its quota to the country’s crude oil production basket to attract investment.

Lokpobri said: “That is the easiest way we can raise the money that is needed to finance all government programs at all levels of, you know, governance in this country.

“And so we will work with Kogi, so that Kogi can also add their own, you know, to the quantum of oil that is produced. And then other investments can come in.”