6 June 2017

Nigeria: Explore Oil, Gas in Benue Trough, Chad Basin to Grow Reserves

The Petroleum Technology Association of Nigeria (PETAN), has tasked the Nigerian National Petroleum Corporation (NNPC) to encourage increased oil and gas exploration in the Benue Trough and Chad Basin in order to grow Nigeria's reserves.

The President of PETAN, Mr. Bank-Anthony Okoroafor said that increased reserves were required to support commercial production in the nation.

While asking the Corporation to do more, Mr. Okoroafor said PETAN recognizes the Corporation's efforts to increase the nation's oil and gas reserves.

"By exploring for more oil in the Benue Trough and Chad Basin, the NNPC is working hard to grow the nation's oil and gas reserves. This is a commendable effort and we will always identify with that," he said.

Okoroafor also presented three awards to the Group Managing Director, Dr Maikanti Baru, who received them on behalf of the Corporation.

The awards were won by the NNPC and its GMD at the just concluded event in Houston, Texas.

Of the three awards, two are for NNPC: the 2017 Oil Industry Award, given in recognition of the corporation's "aggressive exploration campaign in the Benue Trough and the Chad Basin, and an Appreciation Award, for its role in the promotion of the growth of Nigerian companies and entrepreneurship in the petroleum industry.

A personal award, the 2017 Oil Industry Leadership Award, went to the GMD, Dr. Baru himself, as a mark of recognition for his leadership and outstanding contribution to the development of the Nigerian Oil & Gas Industry.

On his part, the GMD, who was visibly elated, thanked PETAN for the awards, noting that oil exploration in the Benue Trough and the Chad Basin "remains a duty that we must accomplish in order to increase the nation's reserves."

He added that the awards would spur him personally and the NNPC to achieve its sets targets thereby creating value for the nation's hydrocarbons for the benefits of all Nigerians and other stakeholders.

PETAN is an association of Nigerian Indigenous Technical Oilfield service companies in the upstream and downstream sectors of the Oil industry.

It aims at bringing together Nigerian Oil & Gas entrepreneurs to create a forum for the exchange of ideas with the major operators and policy makers.

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