Oil discovery in Chad Basin is achievable – FG

The federal government Thursday in Abuja said that oil discovery in the Nigerian sedimentary basin in Chad was achievable.

The Executive Secretary of the Petroleum Technology Development Fund (PTDF), Dr. Oluwole Oluleye, gave the assurance at an annual oil and gas research grant competition.

According to the News Agency of Nigeria (NAN), Oluleye said findings from the 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.

[This Day]

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One Comment

1. 

   Geologist

   March 15, 2014 at 6:52 am

   These guys talk about oil discovery as if it solely depends on effort! They should first inject crude oil into the Chad basin so that they can go back and discover it! Political fraud cooked for greedy electorates. Na only when election dey near na im oil discovery for Chad dey feature for news. Funny that people will still believe such crap!