NNPC is putting last touches to a comprehensive framework designed to herald the intensification of exploration activities in the Chad Basin – According to the fresh reports, the petroleum corporation has so far drilled 23 wells, 21 of which have potential of full prospects of oil – Nigeria engaged a British company into the exploration that is already working in the Lake Chad region to put efforts together .
Moves by the Nigerian government to build up the nations proven oil reserve through exploration of new frontiers received a fresh thrust with the news that the Nigerian National Petroleum Corporation (NNPC) as 21 oil wells out of the 23 drilled so far have potential of full prospects of oil. The report from the NNPC showed that a total of 23 oil wells have already been drilled by mining oil companies that have been involved in oil exploration in the North in the past 30 years. While only 2 of them were reportedly hit a dry run, 21 other wells were said to hold prospects of oil.
The statement from the NNPC also said that the exploration of the oil in the North has, so far, gulped a shocking sum of about N27 billion and $340 million correspondingly.