ADVERTISEMENT
The Sun Nigeria
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
The Sun Nigeria
No Result
View All Result
ADVERTISEMENT
Home Cover

FG to commence oil exploration in Chad Basin –Kachikwu

2nd May 2016
in Cover
1
Fuel importation’ll stop by 2019 –Kachikwu
0
SHARES
124
VIEWS
Share on FacebookShare on Twitter

MINISTER of State for Petroleum Resources, Ibe Kachikwu, said yesterday that the Federal Govern­ment will commence ex­ploration of oil and gas in the inland basins, espe­cially Chad Basin and the Benue Trough.

In a statement by Garba Deen Muhammad, Ka­chikwu, who is also the group managing director of the Nigerian National Petroleum Corporation (NNPC) said the corpo­ration is diversifying its portfolio.

The statement said the NNPC, through its Fron­tier Exploration Services and Renewable Energy Division (FESRED), had progressed reasonably with seismic acquisition activities in the Chad Ba­sin frontier area.

The statement added that operations were sus­pended on November 24, 2014 due to insurgency and that eight of the planned 12 phase project, which was expected to cover 3,550 sq.km, had been acquired at the time of suspension.

“A total of 1, 962 sq.km have been acquired and processed, interpretation is currently at about 90 per cent completion, and drill­ing activities will com­mence by the last quarter of 2016,” the statement read in part.

NNPC further explained that the seismic activities were carried out with due regard to environmental protection in accordance with international stan­dards and best practices.

The operation is being handled by the Integrated Data Services Limited (NNPC subsidiary) and BGP, a subsidiary of China National Petroleum Corporation.

Kachikwu said explora­tion in the Chad Basin was to increase the nation’s oil and gas reserves.

He stated that it would add value to the hydrocar­bon potential of the Nige­rian Inland Basin, provide investment opportunities, boost the economy as well as create millions of new jobs.

“The decision to diver­sify our business portfo­lio is about all of us and about the future of our dear country, the vision is clear, and we are de­termined not to fail,” Ka­chikwu said.

He urged the private sector and venture capi­talists across the globe to partner with NNPC in planned Special Purpose Vehicles to profitably har­ness the enormous energy resources in Nigeria.

sunnews

sunnews

Related Posts

Food security: NiMET urges farmers to utilise weather forecasts
Cover

Taraba, South West states should brace for heavy flooding -NiMet

25th July 2022
Outrage over video of terrorists brutalising Abuja-Kaduna kidnap victims
Cover

Outrage over video of terrorists brutalising Abuja-Kaduna kidnap victims

25th July 2022
NDLEA arrests 8 over Lagos, Abuja, Enugu airports cocaine busts
Cover

NDLEA arrests 8 over Lagos, Abuja, Enugu airports cocaine busts

25th July 2022
Next Post
THE HUNT FOR TOMPOLO

 Aggrieved APC members behind oil pipeline sabotage –Tompolo

Ripples over Bayelsa CP’s letter to Dickson

Bloody day in Rivers, Bayelsa, Cross River

Ayade gives permanent employment to 150 DOPT ad-hoc staff

Ayade shocks workers, pays May salary May 1

Comments 1

  1. Christopher says:
    6 years ago

    It will be nice to strike oil in the Chad basin to balance derivation of revenue to an extent. May be that could provide a soft ground for devolusion of power in Nigeria.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Highlights

Tap into AfCFTA potential, NAFDAC tells pharmaceutical firms

Road to 2023: Buhari should personally handle ASUU crisis –Peter Obi

What NNPC transition means to Nigerians, economy

EFCC arrests 74 suspected internet fraudsters in Rivers

Police kill 4 bandits, recover AK47, cars, motorbike, others in Kaduna, Anambra

Again, Imo boils as Ebubeagu allegedly kills youth

Trending

South East’s presidential nightmare
Broken Tongues

Atiku versus the Wike gang

25th July 2022
0

The overbearing influence of the governor of Rivers Stare, Nyesom Wike, in the affairs of the Peoples...

IPOB, MASSOB mourn Izuogu

Kanu: IPOB, family hail UN, urge FG to respect order

25th July 2022
Successful surgery: Osinbajo expresses deep gratitude to Nigerians

Successful surgery: Osinbajo expresses deep gratitude to Nigerians

25th July 2022
35 containers of Tramadol seized at ports –NAFDAC

Tap into AfCFTA potential, NAFDAC tells pharmaceutical firms

25th July 2022
In 4 years I’ll make Nigeria great again -Peter Obi

Road to 2023: Buhari should personally handle ASUU crisis –Peter Obi

25th July 2022
ADVERTISEMENT

Follow us on social media:

Latest News

  • Atiku versus the Wike gang
  • Kanu: IPOB, family hail UN, urge FG to respect order
  • Successful surgery: Osinbajo expresses deep gratitude to Nigerians
  • Tap into AfCFTA potential, NAFDAC tells pharmaceutical firms
  • Road to 2023: Buhari should personally handle ASUU crisis –Peter Obi
  • What NNPC transition means to Nigerians, economy
  • EFCC arrests 74 suspected internet fraudsters in Rivers
  • Police kill 4 bandits, recover AK47, cars, motorbike, others in Kaduna, Anambra
  • Again, Imo boils as Ebubeagu allegedly kills youth
  • Tension as gunmen attack Delta police station, kill 3 officers
  • NDLEA arrests 8 over Lagos, Abuja, Enugu airports cocaine busts
  • PDP govs, stakeholders sabotaged power shift to South –Ortom
  • … Withdraws drug trafficking charge against clearing agent
  • 2023: Nomination crises rock 12 PDP state chapters
  • Anxiety mounts as debt servicing slides deeper into rabbit hole
  • Fuel scarcity: Airlines increase economy flight ticket to N75, 000
  • ASR Africa donates $3m for development initiatives in Niger Republic
  • Delineated bitumen blocks: FG, PwC to hand licenses to bid winners in November
  • Manufacturers in dilemma over forex scarcity 
  • Zenith Bank retains No 1 position by Tier-1 Capital in 2022 top 1000 W’Bank’s ranking

Categories

  • Abuja Metro
  • Anambra Watch
  • Arts
  • Broken Tongues
  • Business
  • Business Week
  • Cartoons
  • Citizen Joe
  • Columns
  • Cover
  • Culture
  • Duro Onabule
  • Editorial
  • Education Review
  • Effect
  • Elections
  • Entertainment
  • Events
  • Features
  • Femi Adesina
  • Food & Drinks
  • Frank Talk
  • Funke Egbemode
  • Gallery
  • Global Square by Kenneth Okonkwo
  • Health
  • Insights
  • Kalu Leadership Series
  • Kunle Solaja
  • Kunle Solaja
  • Letters
  • Lifeline
  • Lifestyle
  • Literary Review
  • Marketing Matters
  • Muiz Banire
  • National
  • News
  • Offside Musings
  • Opinion
  • oriental news
  • Politics
  • Press Release
  • PressClips
  • Public Sphere
  • Ralph Egbu
  • Shola Oshunkeye
  • Sideview
  • South-west Magazine
  • Sponsored Post
  • Sporting Sun
  • Sports
  • Sun Girl
  • Tea Time
  • The Flipside – Eric Osagie
  • The Sun Awards Live
  • The Sun TV
  • Thoughts & Talks
  • Time Out
  • Today's cover
  • Tola Adeniyi
  • Travel
  • Travel & Tourism
  • Trending
  • TSWeekend
  • Turf Game
  • Uncategorized
  • Updates
  • Views from Abroad
  • Voices
  • World
  • World News
  • About Us
  • Paper Ad Rate
  • Online Ad Rate
  • Change of Name
  • The Team
  • Contact Us
  • Privacy Policy

© 2019 The Sun Nigeria - Managed by Netsera.

No Result
View All Result
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun

© 2019 The Sun Nigeria - Managed by Netsera.