The Nigerian National Petroleum Corporation on Thursday said it would reinvigorate exploratory activities in the seven hydrocarbon basins in Nigeria to shore up the nation’s reserve base.
The NNPC Group Managing Director, Dr. Maikanti Baru, disclosed this in Abuja when he received Governor Ibrahim Geidam of Yobe State in a courtesy visit.
In a statement by Ndu Ughamadu, the Group General Manager, Group Public Affairs Division, Baru said modalities were on to open up all the basins in the country to prospective investors.
He said: “We are on target and we are looking at the prospectivity of the whole basins of Niger Delta, Chad, Anambra, Benue Trough, Benin, Sokoto and Bida.
“We are focused on delivering on these basins in line with our mandate.”
Baru disclosed that preliminary exploratory activities had indicated some signs of hydrocarbon in eastern Yobe side 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 revealed that exploratory activities executed in the Benue Trough in the 1990s had indicated presence of hydrocarbon in the region and attempts which were made under Production Sharing Contract arrangements had involved Shell, Chevron and Agip, which had drilled a well each in the region.
Earlier, the governor said his visit was informed by the commitment of President Muhammadu Buhari’s administration to increase Nigeria’s oil reserves through exploration of oil and gas in the Chad Basin.
He said the policy direction of the Federal Government was of interest to the state because the basin covered a large area, including Yobe.
Geidam said: My visit is a follow-up to our request on exploration of oil in the Yobe section of 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 national economy for improved revenue generation.”
He commended Baru for stemming the incessant scarcity of petroleum products, increasing revenue accruable from the Oil and Gas Sector to the Federation Account among other feats.