By Engr Bolaji Ekundayo
(OVHEM), owner and operator of the Oando downstream assets. Through this acquisition, NNPC Retail Limited will build on the existing success of OVH and operate model service outlets leveraging OVH’s extensive asset base and commercial capabilities. But, by far, one of the most impressive accomplishments of Kyari’s stewardship at NNPCL is the flagging off in November 2022 of the Kolmani Integrated Development Project in Bauchi State marking the commencement of effort to commercially exploit oil in the Northern part of Nigeria.
The Kolmani Oil Field, estimated to have a reserve of about one billion barrels of crude oil, OPL 809 and 810, lies in the Gongola Basin of the Upper Benue Trough, straddling Bauchi and Gombe States. The oil blocks are owned by the NNPCL as a concessionaire with New Nigeria Development Company Ltd, Africa Oilfield Movers Ltd, and SEEPCO as partners. The well is expected to produce 50,000 barrels of oil per day during the first phase.
Equally noteworthy is the near completion of the Ajaokuta-Kaduna-Kano Gas Pipeline Project, which is currently at 70 percent. The AKK Gas Pipeline Project was inaugurated by President Muhammadu Buhari in June 2020. Kyari said over $1.1 billion of the $2.5 billion, earmarked for the over 600 kilometers facility, had been spent so far with the entire money coming from NNPCL’s own funds. The AKK Gas Pipeline Project will have the capacity to transport two billion standard cubic feet of natural gas daily to three proposed independent power plants in Abuja, Kaduna, Kano, and other gas-based industries, including other identified and proposed commercial off-takers along the entire pipeline route. Kyari was quoted to have said that the project was one of the most massive projects the NNPCL had undertaken and was of “immense proportion and value to our country and to the socioeconomic growth of our country.”
In addition to the giant strides outlined above, Kyari had also initiated the rehabilitation and upgrade of the Port Harcourt, Warri, and Kaduna refineries. He had also unveiled programmes and policies that had enhanced transparency and efficiency in the operations of the company. These include the setting up of a new trading subsidiary, the establishment of a new crude oil marketing division, and the implementation of a new performance management system, which enhanced accountability in the Nigerian oil and gas sector by publishing monthly financial and operational reports.
Without a doubt, appointing Kyari to head the NNPCL is one of the best decisions taken by President Buhari as leader of Africa’s most populous nation. It is also significant that President Bola Tinubu is tapping Kyari’s expertise. This scenario is exciting to discerning industry stakeholders, but not mischief makers planning and sponsoring protests.
(Dr. Ekundayo, a petrophysicist, writes in from Port Harcourt, Rivers State)
