The Nigerian National Petroleum Corporation (NNPC) will resume oil exploration activities in the Chad Basin of the country, its Group Managing Director Dr. Maikanti Kacalla Baru said on Monday.
The projection came on the heels of improved security situation in the North East of the country which had been devastated by insurgent upheavals.
A statement by NNPC’s spokesman Ndu Ughamadu said that the NNPC boss made this disclosure during a courtesy visit to the Governor of Borno State, Kashim Shettima and the Shehu of Borno, Alh. Abubakar Ibn Umar Garbai El-Kanemi, in Maiduguri.
“We have been discussing with military authorities in the area and they have assured us of improved security. Once they give us the green light, we would resume operations in the area within six weeks,”the GMD, who was represented by the Chief Operating Officer (COO), Gas & Power, Engr. Saidu Mohammed, said.
Baru told the governor that NNPC was keen on increasing its production from 1.9million barrels per day (bpd) to 3million bpd as well as increasing its oil and gas reserves, a target that necessitated exploring for more oil within and across some of the nation’s inland basins.