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Read NNPC to resume oil search in chad basin

The Nigerian National Petroleum Corporation on Monday announced that it will resume its search for crude oil in the Chad Basin.

The corporation stated that its resolve to resume oil search in the area was due to the remarkable improvement in the level of security in Nigeria’s North-East.

The Nigerian military had recorded victories against the Boko haram militants in the region in recent weeks.
Federal and multinational troops have also rescued hundreds of persons held captives by the terrorists in the troubled states, a development that has improved the security situation in the North-East.

The NNPC stated that its search for oil in the Chad Basin was halted as a result of the volatile security in the region, stressing that with the feats recorded by the military in the area, the corporation would return to the Basin to continue its search.

NNPC, in a statement by its Group General Manager, Group Public Affairs Division, Mr. Ohi Alegbe, said, “With the remarkably improved security situation in the north eastern part of the country, the NNPC is to resume oil search in the Chad Basin.”

The statement noted that the Group Managing Director, NNPC, Dr. Joseph Dawha, disclosed this in Abuja during the 21st Annual General Meeting of Integrated Data Services Nigeria Limited.

IDSL is the subsidiary of the NNPC that is carrying out the seismic data acquisition in the Chad Basin.
Dawha was quoted as saying that “preliminary indications from the previous exercise so far are encouraging and we are going to move back there.”

The NNPC boss regretted that the corporation had to suspend its oil exploration activities in the Chad Basin due to the security situation in the region, describing the development as “unfortunate.”
Read NNPC to resume oil search in chad basin Reviewed by Uchenna Ebuka on May 04, 2015 Rating: 5
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