Exploration activities in Gongola Basin’ll expand nation’s oil resource base—NNPC
The Nigerian National Petroleum Corporation (NNPC) has explained why it has kick started exploration on the Gongola Basin. The target is to expand the nation’s revenue base.
Group managing director of NNPC, Dr. Maikanti Baru, disclosed this an interview in Abuja.
Giving a breakdown of his activities since assuming duties in July 2016, 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.”
According to him, NNPC now runs as a FACTI-based corporation (Focused, Accountable, Competitive and Transparent organisation conducting its business with Integrity).
NNPC boss disclosed that with more activities on the Gongola Basin, more jobs and increased output will mean well for the economy.
