14 October 2017, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation, NNPC, Thursday, hinted of a possible discovery of crude oil in Yobe state, stating that preliminary exploratory activities had indicated some signs of hydrocarbon deposits in eastern Yobe of the Chad Basin.
According to a statement in Abuja, Group Managing Director of the NNPC, Mr. Maikanti Baru, stated this when he received the Governor of Yobe State, Mr. Ibrahim Geidam.
Baru also stated that the NNPC would reinvigorate crude oil exploration in the seven hydrocarbon basins of the country, namely, Niger Delta, Chad, Anambra, Benue Trough, Benin, Sokoto and Bida basins, adding that plans are at advanced stages to as part of modalities to open up all the open up all the basins in the country to prospective investors.
He 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 the presence of hydrocarbon in the region, adding that attempts which were made under Production Sharing Contract arrangements had involved Shell, Chevron, and Agip, which had drilled a well each in the region.
Baru said the NNPC had already identified some leads and prospects that are going to be tested through drilling ahead of the resumption of the Chad Basin exploratory activities.
Also speaking, the Yobe State Governor said his visit was informed by the commitment of President Muhammadu Buhari’s government to increase Nigeria’s oil reserves through exploration of oil and gas in the Chad Basin, adding that the policy direction of the Federal Government was of interest to the state because the basin covers a large area including Yobe State.
“My visit is a follow-up to our request on the 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 the national economy for improved revenue generation,” Geidam stated.
He said he appreciated the critical role of the oil and gas industry in the national economy, stressing that the reforms introduced by Baru since assumption of office had created unprecedented developments in the industry.
The Yobe State Governor listed the gains of the reforms to include stemming the incessant scarcity of Petroleum products, increase revenue accruable from the Oil and Gas Sector to the Federation Account and the leap in the contribution of the Nigeria Liquefied Natural Gas to the national economy.