Minister-designate and Group Managing Director, GMD, of the Nigerian National Petroleum Corporation, NNPC, Dr. Ibe Kachikwu, yesterday revealed that the country was about to make a significant discovery of crude oil in the Lake Chad basin in Nigeria’s Northeast.
Dr Kachikwu, who disclosed this in a statement by the NNPC spokesman, Ohi Alegbe, said the cheery news came as a result of the analysis of recent seismic 3D data generated from the Chad basin, noting that a major announcement to this effect could come by the end of 2015.
According to him, “There are signs from the latest 3D seismic studies that oil may well be very close to being found now in Lake Chad after very many years of trying. I think that this is very key; it is key both for the geographical balancing of oil production and it is also very key for the purpose of refinery placement in the North in terms of access to crude.
“I am optimistic that by the end of the year we should be able to announce something major on this.”
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