As part of strategies to shore up the nation’s crude oil reserve base, the Nigerian National Petroleum Corporation on Thursday announced that it was on target with respect to reinvigorating exploratory activities in the seven hydrocarbon basins across the country.

The Group Managing Director, NNPC, Dr. Maikanti Baru, disclosed this when he received the Governor of Yobe State, Ibrahim Geidam, at the corporation’s headquarters in Abuja.

Explaining the corporation’s efforts to increase the tempo of exploratory activities in the industry, Baru stated that modalities were on to open up all the basins in the country to prospective investors.

He was quoted in a statement issued by the NNPC spokesperson, Ndu Ughamadu, as saying, “We are on target and we are looking at the prospective of the whole basins of the Niger Delta, Chad, Anambra, Benue Trough, Benin, Sokoto and Bida. We are focused on delivering on these basins in line with our mandate.”

The NNPC 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.

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 stated that exploratory activities executed in the Benue Trough in the 1990s had indicated the presence of hydrocarbon in the region, adding that attempts 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 leads and prospects that were going to be tested through drilling ahead of the resumption of the Chad Basin exploratory activities.

Geidam said his visit was informed by the commitment of the 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 the 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 the national economy for improved revenue generation,” the governor said.



http://punchng.com/nnpc-increases-exploration-in-chad-six-other-basins/

The oil that have been explored I wonder how the common man has benefitted from it yet these our leaders are still spending billions of naira to explore oil that other developed countries are moving away from.
During campaign,they will keep shouting diversification and when they are eventually voted in,they will abandon the so call diversification to further exploration of oil because they know they can make enough money from it before their tenure ends.
soon Us,China, Uk, France will abandon oil and I wonder who Will buy these oil that are still been explored.

Aren't we tired of oil self.

Do we want to drink it?

Just because we are trying to diversify doesn't mean we shouldn't further explore oil, as it stands now our economy is oil dependent. Until its fully diversified crude oil is bae

Nonsense Junketeering

North Will never See oil...

We In Niger delta Owns the Oil

By the time North See oil, it Would Have become Useless ,Maybe on Another 100years !!

If Maikanti Barawo 26$b Like Let Him and Buhari Dig Their Father's Graves,They Would Not See Oil.. very Stupid Notaners

diversification is now exploration, well I blame no one since buhari belong to all, and what belong to all belong to nobody, that means he belong to himself

wastages and misplaced priority.

oil again??.

This nation is yet to recover from BH onslaught on the exploration team from UniMaid that were maimed & killed the other time yet the senseless government is still hellbent on sacrificing her citizens some more.BTW,why is the north desperate to hit oil-the fear of imminent restructuring or breakup?

Interesting

Keep exploring for crude while the world is going "green".
The green revolution is spreading and soon no one will ask for our oil.
Them we may have no option but drink it.

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Even at that they will embezzle the whole cash naani.

the only reason the North will agree on restructuring, is when they discover oil in the North.

Lol.
Northern idea of diversifing the economy

We need to explore all our oil potentials and sale as much as we can sale

My state imo should meet federal government to explore her full potential and not be used anymore as a strategic oil reserves

Mission Find Oil In The North By All Means Necessary

And they end up deceiving gullible youths to diversify and become entrepreneurs....

This by force marriage is all about the oil baby....

CriticMaestro:
Just because we are trying to diversify doesn't mean we shouldn't further explore oil, as it stands now our economy is oil dependent. Until its fully diversified crude oil is bae

You are wrong bro.
There is enough oil in the sought to cater for the NIGERIA.

The North is fully aware that they are dining with devil by keeping one Nigeria, and it is a dinner that would end soon but no one knows when, but very soon.

They are only preparing their breakfast, lunch and dinner for the next day after this present dinner ends because they are just a guest to the dinner party of today.

They do not want to be left to eat grass, gorro and kunu for breakfast, lunch and dinner tomorrow when the host finally chase them out.

They have also told the World Bank chief to focus on the north alone, it is a game plan to depart once all is cleared.

I keep saying it.
Una no go see wetin go hit una!!!

In this era of Digital transformation and data analytics, these guys are still searching for oil, na wa o

Have they not heard that 'data' is the new oil? what manner of backwardness

good

U wan giv BH food again afta my best role model. God go punish u.

Who is more stupid, the Northerners or you, who can't place the symbol of the dollar correctly when writing monetary figure? 26$b instead of $26B...

Isokowadoo:
If Maikanti Barawo 26$b Like Let Him and Buhari Dig Their Father's Graves,They Would Not See Oil.. very Stupid Notaners

Maikanti, shut ur trap. Use the resources to make our refinery function to it's optimal

Hilarious! What is all this? Capital projects are pending, the nation is borrowing and huge capital are still being pumped into exploration. what will this administration have to show at the end of 4 years?

With modern economies pursuing huge revenue and economic boost through ICT, innovations, industrialisation, etc Nigeria leaders thought it best to engage its limited resources on oil exploration. What kind of archaic leadership do we have sef?

Instead of this wild goose chase why don't they just get enough fertilizer and quality seeds for the farmers.

Buhari

''concentrate on the North''

-President Buhari (to world bank), 2015

right