The Nigerian National Petroleum Corporation (NNPC) in collaboration with the Nigerian Army is to resume oil exploration in the Lake Chad Basin of Borno State.
According to the corporation, the commencement of exploration is being facilitated by the restoration of relative peace in the basin by the Nigerian Army.
Minister of State for Petroleum Resources, Chief Timiprye Sylva, disclosed the development yesterday after meeting with the Chief of Army Staff, Lt-General Tukur Buratai and the Commander of the Multinational Joint Task Force (MNJTF), Major General Ibrahim Yusuf, at the Maimalari Cantonment in Maiduguri.
“The NNPC has seen a lot of prospects in Chad Basin to commence exploration and drilling activities. That is why the corporation is collaborating with the army to resume oil explorations.
“The collaboration is to ensure that security is being provided for oil exploration and drilling activities to commence very soon in the basin.
“We wanted to commence exploration and drilling activities there because we believe that there is relative peace in this area enough for us to continue drilling activities in the northeast.
“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 the Chad Basin,” Sylva said.