The Nigerian National Petroleum Corporation (NNPC) doesn’t seem keen about exploring oil in northern Nigeria anymore going by recent events.
Reports say the firm is yet to move heavy machinery to exploration sites in Borno, with few days left to the deadline it set the to resume drilling in the state. Going by the current environment the planned exercise may not take place soon.
None of the sophisticated equipment for the operation has been moved to the site and there are no activities on ground to indicate that the exercise will begin soon as promised.
The NNPC has earlier said that oil exploration in the Chad basin will commence in July, 2017, and that necessary arrangements were being made for the take-off of the much awaited exercise.
Furthermore, a substantial part of the discovered oil is said to be lying in Kukawa local government council of Borno state where report indicates that security threats are still being experienced and which may jeopardized the planned commencement of the exploration exercise.
However, an NNPC official said the firm is currently working out security details with the Nigerian army and other agencies.
Apart from these issues, oil exploration will take up a lot of money, which NNPC doesn’t have at the moment, an oil and gas veteran with an alleged 30-year experience said.
“Oil exploration is capital intensive and my simple question has been that with the NNPC account in the red as recent revelations have shown, do they have the financial might?
NNPC spokesperson, Mr. Ndu Ughamadu said the firm is waiting for the necessary clearance to go into Borno to start operation.
“We are waiting for the necessary clearance to move in,” he stated in respond to SMS enquiry sent to him.
“We made it clear that once we get clearance from security agencies, we shall move in.”
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