Nigeria set to resume oil search in Chad Basin

With the remarkably improved
security situation in the north eastern part of the country,
the Nigerian National Petroleum Corporation is to resume
oil search in the Chad Basin.
Group Managing Director of the Corporation, Dr. Joseph T.
Dawha disclosed this at the 21st Annual General Meeting
of Integrated Data
Services Nigeria Limited, IDSL, the subsidiary of the NNPC
that is carrying out the seismic data acquisition in the
Chad Basin.
The event took place at the week end in Abuja.
Dr. Dawha noted ‘‘preliminary indications from the
previous exercise so far are encouraging and we are going
to move back there’’.
He described the security situation in the northeast that
led the corporation to suspend oil exploration activities in
the Chad Basin as
‘unfortunate’ while commending the security forces on
their recent success in the fight against the insurgents.
On the performance of IDSL, the Group Managing Director
said in spite of the challenge of funding as a result of the
fall in crude oil prices,
the Company’s performance is encouraging as it recorded
a thirty two percent revenue growth.
Managing Director of the company, Engr. Victor Briggs
said IDSL is expanding its operations beyond the shores of
Nigeria to neighbouring
West African countries and other emerging oil producing
countries in Africa.
Integrated Data services Limited, (IDSL) was incorporated
in 1988. Its services include provision of seismic data
acquisition, processing and
interpretation as well as petroleum and reservoir
engineering data evaluation, computer and other ancillary
services.