The Nigerian National Petroleum Corporation (NNPC) will resume oil exploration activities in the Chad Basin of the country, its Group Managing Director Dr. Maikanti Kacalla Baru said on Monday.
The projection came on the heels of improved security situation in the North East of the country which had been devastated by insurgent upheavals.
A statement by NNPC's spokesman Ndu Ughamadu said that the NNPC boss made this disclosure during a courtesy visit to the Governor of Borno State, Kashim Shettima and the Shehu of Borno, Alh. Abubakar Ibn Umar Garbai El-Kanemi, in Maiduguri.
"We have been discussing with military authorities in the area and they have assured us of improved security. Once they give us the green light, we would resume operations in the area within six weeks,"the GMD, who was represented by the Chief Operating Officer (COO), Gas & Power, Engr. Saidu Mohammed, said.
Baru told the governor that NNPC was keen on increasing its production from 1.9million barrels per day (bpd) to 3million bpd as well as increasing its oil and gas reserves, a target that necessitated exploring for more oil within and across some of the nation's inland basins.
At the Shehu of Borno's Palace, the GMD sought the fatherly support of the traditional ruler especially in the area of host community understanding towards the resumption of oil exploration activities within the State.
The Corporation also presented relief items to the Shehu for onward delivery to the Internally Displaced Persons (IDPs) in the state.
Earlier in his remarks, Governor Kashim Shettima said the insurgency had taken a huge toll on the North East region leading to the loss of over $9.6bn, with Borno state alone losing $5.6bn.
Also responding, the Shehu of Borno, Alh. (Dr.) Abubakar Umar Garbai El-Kanemi, thanked the NNPC Management for identifying with the Borno people, stressing that the Corporation should do more for the betterment of Nigerians.
He expressed his happiness over the peace being enjoyed across the State now and the entire North East, stressing that in the nearest future, "Borno people will survive the onslaught of the insurgency."