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No Crude Oil discovered in Bida Basin yet – NNPC

No Crude Oil discovered in Bida Basin yet – NNPC

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The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru has debunked claims that commercial quantities of crude oil have been discovered in the Bida Basins.

He said that the Bida basin exploration have not advanced to the level of declaring discoveries talk less of claiming that the oil and gas present is in commercial quantities.

Baru disclosed this during his acceptance speech delivered during his conferment with the Fellowship Award of the Ibrahim Badamosi Babangida University, Lapai (IBBUL).

He explained that there are ten stages of activities that lead to the discovery of oil and gas and the Bida Basin exploration is in the fourth stage which is determining if hydrocarbon have been generated in the Basin, “IDSL, a subsidiary of NNPC, is currently analyzing the Basin to determine if the hydrocarbons have been generated”

“There have been sporadic claims, even recently, by several bodies including Niger state dictionaries that crude oil have been discovered in certain areas of the state. Also it was reported that commercial qualities of oil were discovered from seven wells drilled through the collaboration of the NNPC and IBBUL. NNPC’s wish is: may this come true.

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“It is my hope that with this clarity, all claims and counter claims in respect of the Bida basin hydrocarbon discoveries will be given a befitting rest they deserve, until the conclusion of the current NNPC led efforts or other effort in the Basin are concluded in conformance with the due process enumerated earlier. ”

However, the NNPC Group Managing Director, the NNPC is desirous of discovery of oil and gas in the frontier basins and is currently engaged in aggressive exploration campaign at most inland basins with the view of discovering new oil and gas reserves that will boost oil and gas production in the nation.

“It is our utmost desire that the success of the ongoing exploration campaign in the inland Basins will usher in a new Nigeria. Oil discovery in the inland basin is expected to increase oil production and generate higher income to the nation, this providing more funds and linkages for speedy development of other sectors of the economy. “

The post No Crude Oil discovered in Bida Basin yet – NNPC appeared first on The Nation Nigeria.

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