14 March 2014, Abuja – The Federal Government on Thursday in Abuja said that oil discovery in the Nigerian sedimentary basin in Chad was achievable.
Dr Oluwole Oluleye, the Executive Secretary of the Petroleum Technology Development Fund (PTDF) gave the assurance at an annual oil and gas research grant competition.
Oluleye said that finding from research on the Chad Basin showed that oil discovery in the sedimentary basins was realistic.
“The discovery of oil in neighbouring Niger and Chad Republic has given an encouraging prospect of oil discovery in the Nigerian sedimentary basins.
“This no doubt will boost the nation’s oil reserve, while progress is made in the discovery of fossil fuels in Chad Basin.
“We should therefore not lose sight of the fact that there is global shift to environmental sources of energy.
“In this regard, the PTDF will sponsor more researches on the production of bio-fuels and biogas from non edible fruits, while resources have already been committed into this area,” he said.
While expressing delight that efforts committed to the project was yielding positive result, Oluleye, however said that more works needed to be done.
According to him, the agency will continue its efforts at ensuring bio-fuel production on commercial scale in the next research cycle.
Oluleye called on national and international oil companies to cooperate with relevant data and also be ready to render other assistance when needed.
He said that this would aid solution to specific industrial problems to ensure job creation and knowledge transfer in the country.