Experts say the Nigerian National Petroleum Corporation’s (NNPC) plan to resume exploratory activities in the Chad Basin in the last quarter of 2016, may not be viable for Nigeria in the short and medium term. Studies have indicated that the Nigerian end of the Chad Basin has little potential for commercial oil exploration.
Read more @ BusinessDay
Former Lagos State Commissioner for Energy and Mineral Resources, Mr. Taofiq Tijani, has urged the Federal Government to continue its search for oil in the Chad Basin in spite of fruitless efforts that have gone into the exercise in the past.
He said there is possibility that oil would be found on the Nigeria’s side of the Chad Basin as oil is being produced on Chad’s side of the basin. He was optimistic that there might be oil reserves in the Basin, adding that with the increasing advanced technology, the reserves could be unlocked one day.
Read more @ Nation online
In the face of dwindling oil reserves, the Federal Government has said it will intensify the search for oil in the Chad Basin area.
It said the prevailing security challenges in the area would not deter it from the mission. “In spite of the dire security situation in the Chad Basin area, the National Petroleum Investment Management Services, through our Frontier Exploration Services, continues to explore the frontier areas of Nigeria to increase oil and gas reserves,” the Group General Manager, NAPIMS, Mr. Jonathan Okehs, said in a post on the organisation’s website.
Read more @ The Punch
Experts say the Nigerian National Petroleum Corporation’s (NNPC) plan to resume exploratory activities in the Chad Basin in the last quarter of 2016, may not be viable for Nigeria in the short and medium term. Studies have indicated that the Nigerian end of the Chad Basin has little potential for commercial oil exploration.
It said the prevailing security challenges in the area would not deter it from the mission. “In spite of the dire security situation in the Chad Basin area, the National Petroleum Investment Management Services, through our Frontier Exploration Services, continues to explore the frontier areas of Nigeria to increase oil and gas reserves,” the Group General Manager, NAPIMS, Mr. Jonathan Okehs, said in a post on the organisation’s website.
