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Published On: Wed, Mar 5th, 2014

Insurgency in North East responsible for low oil exploration in Chad basin – NNPC

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NNPC logoBy Ikechukwu Okaforadi

The Group Managing Director of the NNPC, Mr. Andrew Yakubu has said insurgency in the North-East zone is responsible for the slow performance in oil exploration in Chad Basin in 2013.

Yakubu made this known in Abuja yesterday, during the budget defence by the NNPC before the Sen. Emmanuel Paulker -led Senate Committee on Petroleum Resources (Upstream).

He said there are seven other basins apart from the Chad where NNPC is currently carrying out oil exploration to discover more deposit of crude oil in commercial quantities, adding that part of it are Sokoto, Yola , Bida and Dahomey basins.

He said the data for exploration exercise on the identified basins had been acquired, even as he noted that out of the 13 phases of the Chad basin, exploration exercise on it is on the sixth phase.

“There are seven other basins apart from the Chad that we are exploring. What we did last year was to acquire the aero magnetic data from the geometric survey department. We have Yola, Bida, Sokoto, Dahomey and others”.

“The main focus now which was a result of an extensive geological study that was done a couple of years ago is on the Chad basin. The data for the other basins had been acquired and as soon as we progress with the Chad basins, we shall start work on them, but presently out of 13 phases of the Chad Basin, we are now in phase six”, he added.

Speaking on the fuel scarcity currently in the country, the NNPC boss said the scarcity would end before the end of the week, saying an increased supply of fuel is being made to virtually major filling stations across the country.

According to him, “We have a full team right now in Lagos, last week, the team was in Abuja. We went round the clock to clean it up to get strategic reserves released to the stations and we are able to reduce the fuel queues.

“We shifted to Lagos at the weekend, but we have injected quite a lot into the Lagos market. All the marketers, the DPR, the PPRA, NNPC, and the PPMC have a very strong team out there to ensure that the deliveries are made”, he added.

While pointing out that NNPC has some vessels that had not been offloaded into the tank farms in Lagos, he said a lot of supplies have gone into most filling stations across the country, adding that in the last couple of days, the corporation has close to 1,000 trucks that had been loaded out of the various depots and jetties in Lagos fuel stations and others across the country.

“As at the close of business on Tuesday, most filling stations in Victoria Island and Ikoyi were dispensing fuel and we expect that other parts of Lagos will be impacted by the increase in the fuel supply strategy that the combined team has been using. Hopefully by the end of work today (Wednesday), we would begin to see a change in the fuel scarcity situation in Lagos”, Yakubu assured Nigerians.

 

 

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