NNPC has begun oil exploration in Gongola basin – Baru

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The group managing director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, said in a recent interview that the corporation had commenced exploration activities in the Gongola Basin as part of its efforts to further expand the nation’s oil resource base, Leadership reports.

Speaking on recent developments since he assumed office in July 2016, 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 further explained that NNPC now runs as a FACTI-based corporation (Focused, Accountable, Competitive and Transparent organisation conducting its business with Integrity). He said the new wave of openness and transparency attributable to the Corporation’s monthly operational and financial reports, which are always in the public sphere, had earned the NNPC accolades from Nigerians.