– Nigeria to begin exploratory drilling in search of oil in the Chad Basin this year
– Seismic studies in the reagion are currently ongoing
Nigeria is still committed to the exploration of oil and gas in the inland basins, according to Emmanuel Kachikwu, the minister of state for petroleum resources and group managing director of the Nigerian National Petroleum Corporation (NNPC).
Speaking on behalf of Mr Kachikwu, Garba Deen Muhammad, the group general manager of the NNPC’s public affairs, stated that drilling activities to find oil and gas will commence in the Chad Basin by October. He also noted that Benue Trough basin exploration is also a priority.
READ ALSO: Buhari announces major new plans for Nigerian oil industry
The statement reads in part: “The NNPC through its Frontier Exploration Services and Renewable Energy Division (FESRED), had progressed reasonably with seismic acquisition activities in the Chad Basin frontier area.
Operations were suspended on November 24, 2014 due to insurgency. Besides, eight of the planned 12 phase project which was expected to cover 3,550 sq.km, had been acquired at the time of suspension.
A total of 1, 962 sq.km have been acquired and processed; interpretation is currently ongoing at about 90 per cent completion, and drilling activities will commence by the last quarter of 2016.”
The NNPC director noted that seismic activities studies were carried out with due regard to environmental protection in accordance with international standards and best practices. The Integrated Data Services Ltd, a subsidiary NNPC company, jointly with a subsidiary of China National Petroleum Corporation (CNPP) were responsible for the exploration services.
READ ALSO: See how King of Saudi Arabia welcomes President Buhari (photos)
Exploration in the Chad Basin is expected to increase the nation’s oil and gas reserves, add value to the hydrocarbon potential of the Nigerian inland basin, provide investment opportunities, boost the economy and create millions of new jobs.
“The decision to diversify our business portfolio is about all of us and about the future of our dear country. The vision is clear, and we are determined not to fail.”
Private sector and venture capitalists across the globe were kinfly invited to partner with the NNPC in planned Special Purpose Vehicles (SPVs) to profitably harness the enormous energy resources in Nigeria.

https://www.naij.com/817707-oil-drilling-start-chad-basin-autumn-kachikwu.html?source=index_main

13% for Borno state loading.

The oil belongs to all nigerians
if i hear...

Buhari will tell the nation that he wants to diversify from oil to other sectors while he invests billions to oil exploration in the core north.

EazyMoh:
13% for Borno state loading.

Before unko, shey dem get fuel...... ...
But e be like say e pain you.

eyeview:
Buhari will tell the nation that he wants to diversify from oil to other sectors while he invests billions to oil exploration in the core north.

Because you farm yam last year, then this year you no go farm yam abi?

So much for diversification of the economy!

Kyase:

Because you farm yam last year, then this year you no go farm yam abi?

Do you know how many billions past military leaders have sunk in the past to explore for oil in the northern basin.
If God no give you,He no give you. They should stop wasting scarce economic resources on futile ventures.

eyeview:


Do you know how many billions past military leaders have sunk in the past to explore for oil in the northern basin.
If God no give you,He no give you. They should stop wasting scarce economic resources on futile ventures.

Same you will tell me tomorrow that buhari should stop blaming the past government.
Lets look into the future,.
Abi na badbelle

VictorRomanov:
So much for diversification of the economy!

so diversification means no more oil exploration or developing other potentials at the same time?

Kyase:
Before unko, shey dem get fuel...... ... But e be like say e pain you.

Naaaa, on the contrary am very happy.

EazyMoh:
Naaaa, on the contrary am very happy.

So why dey beef?

@ OP it is not exploration but exploitation. Exploration implies 'searching for' while exploitation is the extraction of a mineral after it has discovered to be of economic importance.

Kyase:

So why dey beef?

How is that beef? I just posted in anticipation of the 13% for the state and you have drawn a dagger at me! FYI am a Northerner and a gain for Borno is a gain for me as well. Jeez

EazyMoh:
How is that beef? I just posted in anticipation of the 13% for the state and you have drawn a dagger at me! FYI am a Northerner and a gain for Borno is a gain for me as well. Jeez

Ok, thought you are been sarcastic

omenka:

Lol

In Severussnape's voice " hehehehehehehe". This government can lie. They do not think of tomorrow or of God, when they lie. Well, not to worry, by September Boko Haram will start a resurgence and so save them from being exposed. Clueless government

eyeview:
Buhari will tell the nation that he wants to diversify from oil to other sectors while he invests billions to oil exploration in the core north.

Imagine that you're a rice farmer who seeks to go into beans farming to boost income. Will you refuse more rice farms offered you because you want to go into beans farming?

Is there Autumn in Nigeria?

Chad basin militants warming up.

Remii:
so diversification means no more oil exploration or developing other potentials at the same time?

Spend the money on something worthwhile. Is this what we really need now? Supposing u don't find oil, what happens to the money? Shay they said we re broke? If your family were in financial crisis, would you use the little money u have to venture into a business u re not sure of, or manage the money wisely?

Some people won't sleep well tonight. Anything good for a section of the country other than theirs makes them feel like killing themselves. Anyways they should feel free. The exploration will go on nontheless

eyeview:


Do you know how many billions past military leaders have sunk in the past to explore for oil in the northern basin.
If God no give you,He no give you. They should stop wasting scarce economic resources on futile ventures.

Eyahh

olawalepopoola:
@ OP it is not exploration but exploitation. Exploration implies 'searching for' while exploitation is the extraction of a mineral after it has discovered to be of economic importance.

Did you read it at all before you start feeling clever