NNPC to resume exploration for oil in the Chad Basin
The Nigerian National Petroleum Corporation will resume oil search in the Chad Basin as the security situation has remarkably improved security situation in the north eastern part of the country, the Group Managing Director of the Corporation, Dr. Joseph T. Dawha, has said.
According to him, the security situation in the northeast that led the corporation to suspend oil exploration activities in the Chad Basin is 'unfortunate.'
Dahwa spoke at the weekend during the 21st Annual General Meeting of Integrated Data Services Nigeria Limited, IDSL, the subsidiary of the NNPC that is carrying out the seismic data acquisition in the Chad Basin.
The event took place at the week end in Abuja.Dr. Dawha noted that ''preliminary indications from the previous exercise so far are encouraging and we are going to move back there''.
The NNPC boss showered praises on the security forces on their recent success in the fight against the insurgents.
He said that in spite of the challenge of funding as a result of the fall in crude oil prices, the IDSL's performance is encouraging as it recorded a thirty two percent revenue growth.
In his remarks, the Managing Director of IDSL, Engr. Victor Briggs said the company was expanding its operations beyond the shores of Nigeria to neighbouring West African countries and other emerging oil producing countries in Africa.
IDSL was incorporated in 1988. Its services include provision of seismic data acquisition, processing and interpretation as well as petroleum and reservoir engineering data evaluation, computer and other ancillary services.
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