Nigeria says it is on the verge of making a “significant oil find” in
the Lake Chad region in northeast Nigeria. News of the oil find came
from NNPC’s MD, Ibe Kachikwu in a statement released by the company.
“There
are signs from the latest 3D seismic studies that oil may be very close
to being found now in Lake Chad,” Kachikwu was quoted as saying in a
statement issued by NNPC spokesman Ohi Alegbe. “I am optimistic that by
the end of the year we should be able to announce something major on
this,” he said in a presentation in Lagos, according to the statement.
Kachikwu
was quoted as saying it would be important to pass the long-delayed
Petroleum Industry Bill aimed at overhauling the oil sector, and to
encourage investment in the country’s oil and gas industry.
Kachikwu
stated that the NNPC is “projecting the inflow of $20 billion in 2016
to enable the corporation to fund major projects,” said NNPC spokesman
Alegbe.
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