Crude Oil Exploration: NNPC Reinvigorates Action In 7 Inland Basins - OYA Magazine

Crude Oil Exploration: NNPC Reinvigorates Action In 7 Inland Basins

By on October 13, 2017

BY FESTUS OKOROMADU, Abuja

The Nigerian National Petroleum Corporation (NNPC), said it will reinvigorate exploratory activities in the seven hydrocarbon basins in the country as part of efforts to shore up the nation’s reserve base.

NNPC group managing director, Dr. Maikanti Baru, revealed yesterday when he received the Governor of Yobe State, Alh. Ibrahim Geidam at the NNPC Towers, Abuja.

According to a statement signed by the Corporation’s spokesman, Ndu Ughamadu, the GMD stated this while briefing the Governor and his entourage on efforts to increase the tempo of exploratory activities in the Industry.

Dr. Baru stated that modalities were on to open up all the basins in the country to prospective investors.

“We are on target and we are looking at the prospectively of the whole basins of Niger Delta, Chad, Anambra, Benue Trough, Benin, Sokoto and Bida. We are focused on delivering on these basins in line with our mandate,” Dr. Baru affirmed.

The GMD said preliminary exploratory activities had indicated some signs of hydrocarbon in eastern Yobe of the Chad Basin, adding that once the Corporation received security clearance, the 3D seismic data acquisition in the area would continue as scheduled.

Dr. Baru noted that modern technology would be deployed in the exploration of the Yobe section of the Chad Basin similar to that deployed in the Borno side of the Chad basin.

He revealed that exploratory activities executed in the Benue Trough in the 1990s had indicated presence of hydrocarbon in the region, adding that attempts which were made under Production Sharing Contract arrangements had involved Shell, Chevron and Agip, which had drilled a well each in the region.

He added that already the NNPC had identified some leads and prospects that are going to be tested through drilling ahead of the resumption of the Chad Basin exploratory activities.

Earlier, Yobe State Governor, Alh. Geidam, said his visit was informed by the commitment of President Muhammadu Buhari’s government to increase Nigeria’s oil reserves through exploration of oil and gas in the Chad Basin, adding that the policy direction of the Federal Government was of interest to the state because the basin covers a large area including Yobe State.

 

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