The Nigerian National Petroleum Corporation (NNPC) will soon resume oil search in the Chad Basin, especially with the improvement in the security situation in North-Eastern Nigeria.




According to a statement by Mr Ohi Alegbe, Group General Manager, Group Public Affairs Division of the NNPC, on Monday in Abuja, the Group Managing Director of the Corporation, Dr. Joseph Dawha, made the announcement at the 21st Annual General Meeting of Integrated Data Services Nigeria Limited (IDSL), a subsidiary of the NNPC that is carrying out the seismic data acquisition in the Chad Basin.

“Preliminary indications from the previous exercise so far are encouraging and we are going to move back there,” Dawha was quoted to have said.

The statement said further that the performance of IDSL was encouraging in spite of the challenge of funding as a result of the fall in crude oil prices. “The company’s performance is encouraging as it recorded a 32 per cent revenue growth.”

The Federal Government had hoped the country would be able to achieve commercial oil production in the Chad Basin last year, but insecurity in the Northeast caused by Islamist sect Boko Haram had caused a major setback, with various technical personnel who provided support services for exploration activities, as well as geologists in the NNPC leaving the area for fear of being killed.

President-elect General Muhammadu Buhari has however expressed commitment to the project. Buhari, last month promised that his administration will resume vigorous search for oil along the Chad Basin in parts of Borno State after the war against insurgency in the region would have been won.


http://www.informationng.com/2015/05/nnpc-to-resume-oil-search-in-chad-basin.html

ahhh shoki!

Anoda avenue to loot and waste the national wealth. I wonder who told them agriculture cannot transform Nigeria and the north if it is developed with true intentions to export food

I hope they get gas in large quantities that can be used to generate electricity to support the infrastructure in the south.

God bless Nigeria

9ice move

If not for political reasons, what is the point of this nonsense and expensive adventure? We have 32 billion barrels of proven reserves, why waste millions of dollars prospecting for oil where it can't be found?

Sweetguy25:
If not for political reasons, what is the point of this nonsense and expensive adventure? We have 32 billion barrels of proven reserves, why waste millions of dollars prospecting for oil where it can't be found?

There is crude oil at the chad basin. The people of Chad are already benefitting from their own share.

However its high time Nigeria breaks free from a mono economy (being overly dependent on cude oil) when other resources are begging to be exploited...

I Luv my president GEJ

uboma:




There is crude oil at the chad basin. The people of Chad are already benefitting from their own share.

However its high time Nigeria breaks free from a mono economy (being overly dependent on cude oil) when other resources are begging to be exploited...

Its been over 30 years since they started searching for crude in the chad basin with no positive results.
Why continue to waste time and money on such a futile project?

Sweetguy25:
If not for political reasons, what is the point of this nonsense and expensive adventure? We have 32 billion barrels of proven reserves, why waste millions of dollars prospecting for oil where it can't be found?

It will be good for the north to get their own oil so that this desperation will reduce.

even though it will be 1000 barrel per day it is high time to start exploration of oil in the core north just to silent the chest beaters. Kogi is already onboard. Katsina and niger are potential oil producing state jigawa and taraba will soon start production of ethanol in large quantity and dont forget that ondo is also an oil producing state lagos is about to join the bus, ogun and ekiti will soon join the bandwagon,.wow!! NIgeria is a blessed nation indeed. God bless my motherland Nigeria.

lalasticlala, food don done, fp abeg.

Wish them best of luck.

South Korea doesn't have crude oil yet Koreans are doing well.

It is well shaaaa.