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FG assures of crude oil exploration in Chad Basin

By BusinessNews Staff on February 23, 2014

The Federal Government has restated its unwavering commitment to the exploration of crude oil and gas in the Chad Basin inspite of all drawbacks.

It said the National Petroleum Investment Management Services (NAPIMS), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has continued with seismic acquisition activities in the Chad Basin frontier area, despite the security challenges currently being experienced in the area.

Spokesman of NAPIMS, Mr. Kennie Obateru said in a statement yesterday that the acquisition project being handled by integrated Data Services Limited, a subsidiary of NNPC, in partnership with BGP, a subsidiary of the China National Petroleum Corporation.

Obateru said the project was a part of a 12 phased 3D seismic data acquisition programme covering 3,550square kilometers of which Phase 5 covering 252 Sq. Km has just been concluded.

“Currently, Phase six of seismic acquisition programme covering 266 Sq. Km has commenced. From Phase 1 to date, a total of 1,437 Sq. Km of seismic data has been acquired. Of this, 1,096 Sq. Km of seismic data has been duly processed and is ready for interpretation. Preliminary seismic data interpretation has produced some leads that will be further investigated to establish drillable prospects,” he said.

Obateru said the seismic acquisition activities were carried out with due regard to environmental protection and in accordance with international standards and best practices.

“In this regard, NNPC contracted the University of Maiduguri to undertake an Environmental Baseline Studies (EBS) and Environmental Impact Assessment (EIA) which will be a guide in the current and future exploration activities in the region,” he added.

He noted that as a responsible corporate citizen, NNPC had embarked on sustainable developmental projects for her host communities in the areas of infrastructure, health and education.

Obateru said the NNPC had also undertaken projects such as provision of potable water through sinking of boreholes as well as refurbishing of classroom blocks in primary schools in the area.

“NNPC will continue to carry out community-oriented projects as the programme progresses with a view to positively touching the lives of the host communities. Meanwhile, over two thousand youths and local contractors have been actively engaged to provide various services including provision of boat and canoes in swampy terrains,” he added.

He said the current exploration activities in the Chad Basin started over three years ago and had covered five seismic acquisition phases, adding that NNPC’s strategy is to continue Phase 6-12 to enable the corporation complete acquisition and interpret prior to further drilling activities in the area.

“Effort is also being intensified to complete interpretation of the acquired aeromagnetic Surveys across the 6 inland basins as part of the aggressive exploration agenda for increasing our country’s reserve base,” Obateru added.

[This Day]

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