Kachikwu reiterates FG’s commitment to oil search in Chad Basin, Benue Trough despite challenges

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The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, disclosed in a podcast which focused on his two-years at the helm of the oil sector, that the federal government would step up its oil search in various basins around the country not minding the security challenges therein, THISDAY reports.

He said the federal government would remain bullish and was unlikely to slow down on its search for more oil deposits in the country despite existent challenges militating against this effort. Kachikwu explained that Nigeria was encouraged to adopt this position by the exploits of the Americans with shale oil. In addition to exploring for oil in established areas with hydrocarbon potentials like the Lake Chad Basin and Benue Trough, Kachikwu said the government would further its search for oil in other parts of Nigeria with such potentials.

“We have investments that we are looking at in the Benue Trough and Chad zone. It is absolutely important that just like changing the foothold on refining is going to be key for us in stopping (petrol) importation by 2019, investments in the Lake Chad Basin and Benue Trough are going to be key. Every part of Nigeria that has a potential for oil, we will find, if America can find oil out of shale, Nigeria must find oil wherever it resides in Nigeria,” said Kachikwu.