AFTER 3 decades of elusive search for hydrocarbons in the Lake Chad Basin where the Federal Government spent about $340 million and additional N27 billion, in seismic expedition, Nigeria looks set to continue its crude oil exploration in the North East region.
But petroleum engineers, investment experts and geologists have warned the Buhari administration could yet burn its fingers in the long run as the geography of the zone may not guarantee a commercial find.
It was on the basis of this sentiment that the recent marching order handed down to the management of the Nigerian National Petroleum Corporation (NNPC) to resume oil search in the Chad Basin after 30 years of futile efforts is eliciting reactions from stakeholders in the oil and gas sector.





Source : http://sunnewsonline.com/how-fg-spent-340m-n27bn-in-search-of-crude oil-in-the-north/

Gas is more important and there is gas all over Nigeria

oduastates:
Gas is more important and there is gas all over Nigeria

we waste our gas resourse.

If Nigeria builds facilities to process gas, we will make more money from gas than oil.

I just wonder if our leaders have brain at all.

Abokki wants to diversify Nigeria's economy.
He come de spend big money de find d same oil wey him wan diversify from.
Chaiii,ije akwukwo di mkpa.

Buhari is a fool and an economy-idiot. Instead of wasting resources on oil that will never be found, why not spend the money on planting groundnut in the north? They would have been able to bring back the groundnut pyramid again. But the north has grown lazy and would rather go for free money, hence the race after oil, the same oil that may never rise in global value anymore.

Buhari is a failure where economy is concerned. A complete failure, a real dullard. No money to finance budget, but there is money to waste on fruitless search for oil in the north.

dokiOloye:
Abokki wants to diversify Nigeria's economy.
He come de spend big money de find d same oil wey him wan diversify from.
Chaiii,ije akwukwo di mkpa.

Na so my brother 4rm d east

[size=15pt]Are they tired of searching? God is not mocked.

Let them go and borrow IMF loans and use it to search for oil in Sokoto and Katsina! Useless wicked people!

Instead of spending money on productive ventures or even repairing the refineries.

How can you choose to spend such outrageous amount on drilling into desert ground while the rest of the country are hungry? This is why Nigeria needs to break up for peace to reign.[/size]

Wasting SS money finding oil in the north while millions of Nigerians are currently hungry and starving.

Starting from now, I think the Nigerian election should be done the way it is in America where candidates engage in debates. That way we get to know those who are grossly incompetent.

ideology:
we waste our gas resourse.

If Nigeria builds facilities to process gas, we will make more money from gas than oil.

I just wonder if our leaders have brain at all.

This same gas that they keep bombing the pipelines everyday?

oga, read up oil exploration, the gas in pipeline is just about 1/4 of gas released during exploitation, read up gas flaring, you will understand what I meant, good afternoon

obailala:
This same gas that they keep bombing the pipelines everyday?

ideology:
oga, read up oil exploration, the gas in pipeline is just about 1/4 of gas released during exploitation, read up gas flaring, you will understand what I meant, good afternoon

I live in the oil industry, and I am aware of the constraints to gas utilization in Nigeria. Maybe you should try reading up articles on the constraints to gas utilisation in Nigeria. A simple example is our thermal power plants across the nation which are always down due to gas supply issues; it's not that we don't have abundant gas or that we don't know how useful gas can be, but rather, we have a more demonic problem called 'pipeline vandalism' which has hindered gas utilisation in Nigeria for decades.

....and they said that there is no money.
What shall it profit buhari to spend a large amount of money and still finds nothing.

obailala:
I live in the oil industry, and I am aware of the constraints to gas utilization in Nigeria. Maybe you should try reading up articles on the constraints to gas utilisation in Nigeria. A simple example is our thermal power plants across the nation which are always down due to gas supply issues; it's not that we don't have abundant gas or that we don't know how useful gas can be, but rather, we have a more demonic problem called 'pipeline vandalism' which has hindered gas utilization in Nigeria for decades.

pipeline vandalism is not the major factor for the under usage of gas in nigeria...the madness of our leaders is the major problem...

Izonpikin:
pipeline vandalism is not the major factor for the under usage of gas in nigeria...the madness of our leaders is the major problem...

Vandalism is one of the biggest hinderance to the efficient utilisation of gas in Nigeria. Yes there are other problems which rest mainly on the government paying only lip service to development of gas infrastructure, but you cannot play down the impact of vandalism. As an example, more than 50% of the gas power turbines in the country are lying idle presently, thanks to gas constraints.

you are still not getting it, am no longer in the oil industry but If 3/4 of your gas is being flared, why worry about 1/4 loss through pipeline vandalism

Govt should partner with Private sector and build more storage and gas processing facilities. Visit frontier oil limited at Eket, you will see their gas processing plant, it is even not enough as they still flare a greater percentage

obailala:
I live in the oil industry, and I am aware of the constraints to gas utilization in Nigeria. Maybe you should try reading up articles on the constraints to gas utilisation in Nigeria. A simple example is our thermal power plants across the nation which are always down due to gas supply issues; it's not that we don't have abundant gas or that we don't know how useful gas can be, but rather, we have a more demonic problem called 'pipeline vandalism' which has hindered gas utilisation in Nigeria for decades.

Spending $340 millions in search of natural resources doesn't look that bad to me even if no oil is discovered. Dasuki alone gave gave out $2.1 billions to PDP members and their friends. How did Abacha loot that is still trapped overseas?
How much did Nigeria spend to discover oil in Niger Delta? It is called investment.

wadetaw202:
Buhari is a fool and an economy-idiot. Instead of wasting resources on oil that will never be found, why not spend the money on planting groundnut in the north? They would have been able to bring back the groundnut pyramid again. But the north has grown lazy and would rather go for free money, hence the race after oil, the same oil that may never rise in global value anymore.

Buhari is a failure where economy is concerned. A complete failure, a real dullard. No money to finance budget, but there is money to waste on fruitless search for oil in the north.

Buhari is a fool and idiot, yet we have him as our president ruling and governing people like your father and you. What does that say about your father? Bigger fool and idiot I guess!

Buhari Mr Northerner..

But its really funny how other people who share boundaries with Nigeria at the lake Chad basin have oil but the North can't find nada

Money shared by Emirs and Imams?

Then took a picture with a drilling equipment to fool the world...?

Mega Hypocrisy.....

maasoap:

Buhari is a fool and idiot, yet we have him as our president ruling and governing people like your father and you. What does that say about your father? Bigger fool and idiot I guess!

It only means your father is a cvr5ed baztaaaard and that your mother is a ddog. It went further to mean you are are useless 1mbe51le and it equally means your whole family is cur5ed forever and you will never be free from this everlasting cvr5e.

Do you get it now?

[size=18pt]I wish they spent more money. In fact he should spend the entire 2016 budget digging holes in the north to get oil.


Even if there is oil in the North, God will not allow Buhari to find it now, because his intentions are very wicked for his "5% of Nigerians".[/size]