Sunday 31st May 2020
Sunday, 31st of May 2020
Home / Science & Tech / Govt considers inland petroleum exploration

Govt considers inland petroleum exploration

Scientists have said that, in order to sustain Nigeria’s global position as a major oil and gas exporter, there is need for the authorities to turn to inland basin exploration.

Govt considers inland petroleum exploration Inland 300x294A scientist, Prof Chukwuemeka Ekweozor, believes that, as the Niger Delta oil province gradually matures. Its petroleum production would decline as, according to him, is evident in the case of the North Sea and other basins worldwide that were once prolific.

“Therefore petroleum systems in the inland basin need to be investigated as part of strategic and pro-active national policy because therein lie the fossil fuel source of the future,” he declared

Director-General of the Energy Commission of Nigeria (ECN), Prof. Abubakar Sambo, underlined the importance of petroleum (oil and gas) to the nation’s economy, saying that it accounts for up to 95 percent of the country’s foreign earning.

ALSO READ:  Shell accused of concealing data on damage to health from spills

“The oil and gas reserves in the Niger Delta are projected to last for less than 50 years as at present production rate. So it is imperative for the nation to continue to search for oil and gas to add to our reserves, increase foreign earnings and meet up with our vision 20:2020 aspiration and in line with Mr. President’s Transformation Agenda, he submitted.

According to him, the opening up of the inland basins will no doubt result in new reserve discoveries and afford interested entrepreneurs – both local and foreign – a room to grow, collaborate and engage in profitable business alliances, and economic empowerment and diversify petroleum sources for national development.

ALSO READ:  Group demands $100b to restore, compensate polluted Niger Delta

Science and Technology Minister, Prof. Bassey Ewa, said that government is commitment to exploring oil and gas inland.

By Laide Akinboade

x

Check Also

Ogoniland-Spill  Civil society groups call for immediate clean-up of Ogoniland Ogoniland Spill

Civil society groups call for immediate clean-up of Ogoniland

The Environmental Rights Action, Amnesty International, and Friends of the Earth Europe on Friday, June ...

Live Updates COVID-19 CASES
%d bloggers like this: