Chineme Okafor in Abuja and Laleye Dipo in Minna
The Nigerian National Petroleum Corporation (NNPC), on Saturday declared that it has not recorded any commercial oil find in the Bida Basin, stating that the processes required to achieve that were still far.
NNPC’s Group Managing Director, Dr. Maikanti Baru, explained that the speculations that oil has been found in commercial quantity in the Bida Basin should be discountenanced, adding that the search for oil in the basin was still ongoing.
In a statement from NNPC’s Group General Manager, Public Affairs, Mr. Ndu Ughamadu, in Abuja, Baru said the NNPC was desirous of finding oil in the frontier basin, but that it was currently at the fourth, out of 10 intensive stages to determine if it had oil deposits in commercial quantities.
The statement said he made the submission while delivering his acceptance speech when he was conferred with a fellowship award by the Ibrahim Badamasi Babangida (IBB) University in Lapai, Niger State.
It explained that he also spoke on the topic: “The Role of Inland Basins in Unlocking the Socio-Economic Benefits of a New Nigeria.â€
He stated that upon completion of determination of hydrocarbon generated, the NNPC would initiate another six stages of integration of the studies to identify positive hydrocarbon anomalies, acquisition of 2D seismic data over anomalies, acquisition of 3D seismic data to validate identified structures, drilling of exploration wells, drilling of appraisal wells and evaluation of the engineering and economic parameters required.
He emphasised that NNPC recognised that the Bida basin exploration was in the fourth stage of these activities, adding that it is important to state that efforts have not advanced to the level of declaring discoveries, talk-less of claiming that the oil and gas present is in commercial quantities.
“It is also imperative to state that even after commercial discovery of hydrocarbons, it is pertinent that pronouncements be made only after due validation of claims by the industry regulator – the Department of Petroleum Resources (DPR),†Baru, said.
He expressed the hope that with the clarity provided, all claims and counter claims in respect of the Bida basin hydrocarbon discoveries would be given the befitting rest they deserve, advising that until the conclusion of the current NNPC-led efforts or any other ones in that respect, all claims should be discountenanced.
Baru maintained that the corporation’s foray into the inland basins was to expand its exploration footprint with a view to improving the nation’s oil and gas reserves, increase oil and gas production and spin-off socio-economic activities across the country.
According to him, NNPC through its relevant subsidiaries is currently engaged in aggressive exploration campaign at most inland basins with a view to discovering new oil and gas reserves that will boost oil and gas production and the extended economic benefits to the people within those basins and the nation at large.
Baru equally maintained that NNPC, as the concessionaire of all the blocks in these basins, was committed to working with all stakeholders around the Bida Basin and beyond to advance the current efforts to fruition and thereafter follow all the laid down regulations for reporting such discoveries.
“It is our utmost desire that the success of the ongoing exploration campaign in the inland basins will usher in a new Nigeria. A new Nigeria with balanced resources distribution; diverse economic activities and sustained energy security as we move towards the industrialised economy we all desire,†he said.
He applauded President Muhammadu Buhari for giving the corporation the mandate and all the necessary support and encouragement to lead a renewed search for oil in the inland basins, adding that the Niger State government has been very helpful as well.
He also commended the Ibrahim Badamasi Babangida University with respect to the studies carried out on the characterisation of the Bida Basin, stressing that the studies would help NNPC in the ongoing exploration activities in the basin.
According to him, the corporation would from time-to-time engage the university for further support in areas relating to the ongoing exploration in Bida Basin.
