NNPC Declares Oil Won’t Be Discovered Any Time Soon In Northern Nigeria

…Baru said that the discovery of hydrocarbons takes many years, adding that oil was discovered in Niger Delta after 50 years of exploration

Nigeria National Petroleum Corporation, NNPC has declared that it will take a several year or decades before oil will be discovered in Northern Nigeria.

This disclosure was made at the background of heightened expectations from the president and members of the public who expect oil and gas to be found in the region immediately after President Buhari flagged off the spud-in last week.

Group Managing Director of NNPC, Mr. Maikanti Baru, said that the discovery of hydrocarbons takes many years, adding that oil was discovered in Niger Delta after 50 years of exploration, and the new project in the north will not be an exception.

He emphasized that they will do everything possible to ensure that the directive of the president is followed to the latter, as they intend to carry out a sustainable exploration within the basin.

In a joint statement by NUPENG and PENGASSAN, the two bodies commended the project while imploring the president to sign the Petroleum Industry Bill into law to address many challenges that create bottlenecks in the sector.

“In this Bill, roles and accountability are better clarified; governance and transparency strengthened and inefficiency, maladministration, corruption and secrecy are accordingly tackled, these are quite important and must be upheld,” the statement relays.

It is expected that at the end of the day, the investment that has been poured into the exploration will yield result.

SOURCE: newsroom.com