NNPC searches for oil

Few days after Nigeria’s daily crude oil production hit 2.323 million barrels per day, the Nigerian National Petroleum Corporation (NNPC), has restated its commitment to recommence oil exploration activities in the Lake Chad Basin once security clearance is approved for the company doing the exploration.

This was disclosed by the immediate past Group Managing Director of Nigeria’s state-owned oil company, Dr. Maikanti Baru. He made the disclosure while receiving the Executive Governor of Bauchi State, Senator Bala Mohammed, who paid a business visit to Maikanti earlier this week.

Speaking during the visit, the former NNPC boss who stated the following;

We will go back there as soon as we receive security clearance. There seem to be some prospects there because Niger Republic drilled over 600 wells and now they are producing while we have only drilled 23.”

Security Unrest Affected Initial Exploration: During the meeting, it was disclosed that oil search in the Lake Chad Basin was initially suspended after a team of NNPC Frontier Exploration Services and their consultants from the University of Maiduguri were aggressively challenged, with some of them abducted on July 25th, 2017.

Meanwhile, Baru appreciated the efforts of Bauchi and Gombe states citizens for their support and hospitality, especially those living within the regions where the exploration activities are taking place. He assured them of the NNPC’s unrelenting support in the provision of basic amenities and infrastructure.

[GET THE LATEST Insights on Nigeria’s Crude Oil]

Manpower Development: Speaking on the proposed Institute of Petroleum Studies which is billed to get established in Bauchi State University, Dr. Baru made a pledged support on behalf of the company and also assured the Bauchi State Governor of stronger synergy between the institution and the Petroleum Training Institute, Warri.

 

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NNPC searches for Oil in Chad Basin

Also speaking at the event was the Bauchi state Governor, Senator Bala Mohammed, who stated that his visit was simply to seek collaborations with the NNPC on how to further advance the affairs of the state.

The Governor was optimistic that the exploration activity that is billed to be carried out in the Gongola Basin will lead to oil being found.

We are happy that we have some hydrocarbon not only in Bauchi but also in Gombe both in the Gongola Basin, and we are totally committed to the exploration activities of the NNPC in the area.” 

Note that the exploration of hydrocarbon in other parts of Nigeria will further boost the production quota for Nigeria in the global oil market. This will, in turn, increase the country’s ability to earn more money from crude oil exportation.

READ MORE: OPEC Cuts: Nigeria defies quota, increases crude production

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