Nigerian government has been making effort to build up the nations proven oil reserve by exploring new frontiers.
Nigerian National Petroleum Corporation (NNPC) has discovered 21 oil wells out of the 23 drilled so far which has potential of full prospects of oil.
NNPC said that the exploration of the oil in the North has consumed so far, a shocking sum of about N27 billion and $340 million.
“Discoveries made in neighbouring countries in basins with similar structural settings are: Doba, Doseo and Bongor all in Chad amounts to over 2 Billion barrels (Bbbls); Logone Birni in Southern Chad and Northern Cameroon, over 100 Bbbls; and Termit-Agadem Basin in Niger totals over 1Bbbls.
“Already the NNPC New Frontier Exploration Services Division which is leading the charge for crude oil find in the entire Inland Basins is acquiring 3,550 sq km of 3- D seismic data for processing and interpretation in addition to the already acquired 6000km of 2-D data that is currently being reprocessed.”
“The search is not limited to the Chad Basin alone but covers extensive inquest in the entire Nigerian Frontier Sedimentary Basins which includes- The Anambra, Bida, Dahomey, Gongola/Yola and the Sokota Basins alongside the Middle/Lower Benue Trough.’’