The President Buhari led administration had intensified efforts in search of oil every where — other than the Niger Delta.
The government said it believed crude oil could be found in large quantities along the Chad, Cameroon, Anambara and Benue basins.
The Buhari led government engaged the services of a British firm, who, in collaboration with NNPC sought for the black gold in areas suspected to house the commodity.
They’ve hit the jackpot!
Out of the twenty wells drilled, twenty one – twenty one — of those had oil in commercial quantities.
A report from NNPC confirmed the 21 oil wells. However, the state run company said the search for oul in the North has so far gulped a whooping N27 billion and $340 million.
According to NNPC, “Discoveries made in neighboring 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.
“These basins includes Anambra, Bida, Dahomey, Gongola/Yola and the Sokota Basins alongside the Middle/Lower Benue Trough.
The attacks of the Niger Delta militants in the south of Nigeria reduced oil production and partially caused the country’s recession.
Following this upsurge in attacks, President Buhari directed the NNPC to escalate search for crude-oil in the north-east.
The administration started the long-term planned exploration of crude-oil in the north-eastern part of Nigeria.
The overall plan is to reduce the pressure on the Niger Delta region.