Saturday, 8 September 2012

Oil Discovery in Lake Chad Basin By NNPC

The Nigerian National Petroleum Corporation, NNPC, on Friday announced the discovery of crude oil in about 3350 square metres in the Lake Chad Basin.

Following this history discovery, Vice President Namadi Sambo is leading the commencement of steps towards engaging “willing and ready investors that will facilitate speedy and timely exploration in the second phase of the exercise.”

Sambo said during a meeting convened with experts within the NNPC and other public sectors at the State House, Abuja that the federal government is happy that surveys have indicated the presence of oil in the Chad Basin. gathered that the Lake Chad Basin, located in the far North Eastern Borno State of Nigeria, is the hotbed of terror attacks and other forms of violence by the Islamic sect, Boko Haram.

Group Managing Director of NNPC, Mr. Andy Yakubu, said “despite the insinuations making the rounds that the corporation is not doing much on the exploration of the hydro carbon on the Lake Chad, NNPC was doing a lot to realise the noble objective of the Federal Government."

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