NNPC says targets 40bn barrels nation’s reserve by 2023

Per Second NewsJune 18, 2020324

In its drive to upscale the nation’s reserve, the Nigerian National Petroleum Corporation (NNPC) says it is targeting 40 billion barrels by 2023.

To this end, Malam Mele Kyari, the Group Managing Director of NNPC, said

exploration of inland basins was in progress with a realistic and achievable target of growing the nation’s reserve.

He spoke at the unveiling of 2D seismic data acquisition in the Bida/Sokoto Basin in Minna, Niger State.

“Efforts in the search for hydrocarbons in the frontier basins have been intensified and more geological targets are identified for exploration, ” Kyari said.

He was represented by Alhaji Abdullahi Bomai, Group General Manager, Frontier Exploration Services.

According to the GMD, 600 kilometers of two dimensional seismic data will be required as prospects in Bida Basin to further evaluate the potential of the basin.

The programme will cover eight local government areas in the state — Mokwa, Lavun, Gbako, Bida, Katcha, Agaie, Edati and Lapai.

Two are in Kwara State and one in Kogi.

Kyari said many skilled, semi-skilled and unskilled workers would be engaged in different categories, adding that the operations are usually associated with damage to land, crops and economic trees.

“It is the industry standard to assess such damages and provide appropriate compensations to affected persons and communities so as not to cause panic or disturbance.”

He said surface geochemistry, ground gravity/ magnetic, stress field detection, full tensor gradiometer aerial surveys had been deployed to further explore large areas and derrick prospects in the frontier basin.

Kyari added that the corporation had also identified prospective hydrocarbon exploration targets in the basin.

The samples collection and preparation was carried out by IBB University, Lapai Consultancy Services.

Also speaking, Gov. Abubakar Bello of Niger State, commended the management of NNPC for its efforts and expressed optimism that the state would soon join oil producing states.

He promised necessary support and cooperation needed for the commencement of hydrocarbon exploration in the state.

“Beyond the financial benefits, it will bring about social and economic development of host communities, carry the communities along and engage them as host communities to avoid issues,” he said.

He advised NNPC management to meet with stakeholders of the affected communities on their projects.