As part of strategies to shore up the nation’s reserve base, the Nigerian
National Petroleum Corporation (NNPC), will reinvigorate exploratory
activities in the seven hydrocarbon basins in the country.
NNPC Group Managing Director, Dr. Maikanti Baru, disclosed this Thursday
when he received the Governor of Yobe State, Alh. Ibrahim Geidam at the
NNPC Towers, Abuja.
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 prospectivity 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.
“My visit is a follow-up to our request on exploration of oil in the Yobe
section of Chad Basin. The assurance which you gave that the exploration
for hydrocarbon deposits in part of Yobe State was being considered has
reinforced our resolve to work with you on diversifying the sources of
national economy for improved revenue generation,” Alh Geidam stated.
Alh. Geidam said he appreciated the critical role of the Oil and Gas
Industry in the national economy, stressing that the reforms introduced by
Dr. Baru since assumption of Office had created unprecedented developments
in the industry.
The Yobe State Governor listed the gains of the reforms to include
stemming the incessant scarcity of Petroleum products, increase revenue
accruable from the Oil and Gas Sector to the Federation Account and the
leap in the contribution of the Nigeria Liquefied Natural Gas to the
national economy.