The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said that the speculations that oil has been found in commercial quantity in the Bida Basin should be discountenanced, stressing that the search for oil in the basin is still ongoing.
Dr. Baru made this submission while delivering acceptance speech during his conferment with the fellowship award by the Ibrahim Badamasi Babangida (IBB) University, Lapai on Saturday.
Speaking on the topic: “The Role of Inland Basins in Unlocking the Socio-Economic Benefits of a New Nigeria”, he posited that NNPC was desirous of discovering oil and gas in the frontier basins, stressing that the Corporation was currently at the fourth, out of ten intensive stages, of determining if hydrocarbon has been generated in the basin.
The NNPC helmsman averred that upon completion of determination of hydrocarbon generated, the corporation would initiate another six stages of integration of the studies to identify positive hydrocarbon anomalies, acquisition of 2D seismic data over anomalies, acquisition of 3D seismic data to validate identified structures, drilling of exploration wells, drilling of appraisal wells and evaluation of the engineering and economic parameters required.
“It is also imperative to state that even after commercial discovery of hydrocarbons, it is pertinent that pronouncements be made only after due validation of claims by the Industry Regulator – the Department of Petroleum Resources (DPR),” Dr. Baru advised.
He expressed the hope that with the clarity provided, all claims and counter claims in respect of the Bida basin hydrocarbon discoveries would be given the befitting rest they deserve, advising that until the conclusion of the current NNPC-led efforts or any other ones in that respect, all claims should be discountenanced.
Dr. Baru maintained that NNPC, as the concessionaire of all the blocks in these basins, is committed to working with all stakeholders around the Bida basin and beyond to advance the current efforts to fruition and thereafter follow all the laid down regulations for reporting such discoveries.
According to him, the corporation would from time-to-time engage the University for further support in areas relating to the ongoing exploration in Bida basin. “Ours is a symbiotic collaborative relationship with this ivory tower,” he concluded.
The State Governor, Alhaji Abubakar Yahaya Bello, expressed gratitude to the NNPC for engaging the University on the basin exploration, saying that the GMD deserves the recognition bestowed on him by the university.
On his part, the Pro-Chancellor of the University, Dr. Mohammed Santuraki, gave kudos to Dr. Baru on the efficient way he runs NNPC thereby impacting the lives of Nigerians positively.
Earlier, the Vice Chancellor of the University, Prof. Muhammad Nasirudeen Maiturare, thanked Dr. Baru and the NNPC for partnering with the University in the Bida basin exploratory activities, assuring that the University would continue to contribute its quota to the oil search in the basin.
“… it is pertinent that pronouncements be made only after due validation of claims by the Industry Regulator – the Department of Petroleum Resources (DPR)”.