NNPC Begins Oil Exploration In Gongola Basin

Dr. Maikanti Baru, group managing director of NNPC revealed at the Corporation’s headquarters while hosting the management of Media Trust Ltd in Abuja.

Dr Baru said, “Aside increasing the nation’s oil and gas reserves to 37 billion barrels of oil and 192 trillion cubic feet of gas respectively, the Corporation has also commenced exploratory activities in the Gongola Basin with the aim of further growing oil and gas reserves and taking advantage of low oil prices which make inland exploration cost effective.”

Baru also said that FACTI-based corporation (Focused, Accountable, Competitive and Transparent organisation conducting its business with Integrity) run by the corporation has earned them accolades from Nigerians.

“With the consistent release of our monthly financial and operational reports, the Nigerian Extractive Industries and Transparency Initiative (NEITI) recently commended us for embracing openness, subjecting our activities to greater public scrutiny and providing real-time information about the state of the nation’s oil and gas sector,” he said.

The NNPC boss stated that the NNPC had outlined plans to establish a security advisory council as part of efforts to find a lasting solution to the pipeline vandalisation and sundry security challenges.

According to him, the proposed security advisory council would involve critical stakeholders including security agencies, Niger Delta leaders and international oil companies, and would address all security and host community agitations.

“We want to passionately appeal to those behind indiscriminate acts of infrastructure vandalism to put an end forthwith to these despicable acts which are a great threat to the economy, the eco-system and energy security of the country,” he said.