NNPC yet to discover oil in commercial quantity in Bida Basin – GMD

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru has said that exploration work in the Bida Basin has not reached the stage where availability of crude in commercial quantity could be ascertained.

The Group Managing Director, who spoke against the backdrop of media reports suggesting the discovery of oil in commercial quantity, said the process leading to the arrival of such conclusion is tedious, even as he confirmed that the Corporation alongside researchers from the Niger State-owned Ibrahim Badamosi Babangida University, Lapai (IBBUL) are ground at the Basin.

The clarification was made during the 2nd combined convocation ceremony where he was conferred with the Fellowship Award by the IBB University yesterday in Lapai, Niger State.

According to him there are 10 stages of activities to ascertain whether the discovery of oil and gas is in commercial quantity, adding that in respect of the Bida Basin, researchers are on the fourth stage.

He said IDSL, a subsidiary of NNPC, is currently analysing the Basin to determine if the hydrocarbons have been generated.

“There have been sporadic claims, even recently, by several bodies including Niger State dictionaries that crude oil have been discovered in certain areas of the state. Also it was reported that commercial qualities of oil were discovered from seven wells drilled through the collaboration of the NNPC and IBBUL. NNPC wishes this may come true.

“It is my hope that with this clarity, all claims and counter claims in respect of the Bida Basin hydrocarbon discoveries will be given the befitting rest they deserve, until the conclusion of the current NNPC led efforts or other efforts in the Basin are concluded in conformance with the due process enumerated earlier,” he said.