NNPC TO DRILL FOR OIL IN CHAD BASIN THIS YEAR

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Group Managing Director (GMD) of the Nigeria National Petroleum Corporation (NNPC) Dr. Ibe Kachikwu has said the NNPC will drill for oil in the Chad Basin in the last quarter. He reiterated the commitment of the Federal Government and the NNPC to explore for oil and gas in the inland basins, especially Chad Basin and the Benue Trough.

Kachikwu said the NNPC, through its Frontier Exploration Services and Renewable Energy Division (FESRED) had progressed reasonably with seismic acquisition activities in the Chad Basin frontier area until insurgency necessitated the suspension of operation. He said eight phases, out of the planned 12-phase project, to cover 3,550 sq.km had been acquired by the date of suspension of operation on November 24, 2014.

NNPC’s Group General Manager, Group Public Affairs Division Malam Garba Deen Muhammad, in a statement, quoted Kachikwu as saying: “A total of 1, 962 sq. km was acquired and processed, interpretation is on at 90 per cent completion, and drilling activities will commence by the last quarter of 2016.”

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