The Nigerian National Petroleum Corporation (NNPC) has announced plans to commence oil exploration in the Lake Chad Basin of Borno State Northern Nigeria.
According to NNPC, the commencement was facilitated with the restoration of relative peace in the basin by Nigerian Army.
Minister of State for Petroleum Resources, Timiprye Sylva, disclosed this, after meeting with the Chief of Army Staff, Lt-Gen. Tukur Buratai, and Commander of Multinational Joint Task Force (MNJTF), Major-Gen. Ibrahim Yusuf, at Maimalari Cantonment, Maiduguri.
The NNPC has seen a lot of prospects in the Chad Basin to commence exploration and drilling activities. That is why the Corporation is collaborating with the Army to resume oil exploration.”
He said the collaboration will ensure that security is being provided for oil exploration and drilling activities to commence very soon in the Basin.
While commending the Army restore peace, Sylva said: “The Army has done a great job. They continue to perform in the Northeast. We wanted to commence exploration and drilling activities there, because we believe that the relative peace in this area is enough for us to continue drilling activities in the northeast.
He added “As you may well know, we have found oil in Gombe State, and we believe that there is a lot of oil to be found in Chad Basin.”