Reserves: Expert urges Kyari to explore Benue Trough, Chad, Anambra basins for hydrocarbons

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AN oil and gas expert, Mr Chikezie Nwosu, has urged the new Group Managing Director of NNPC, Mr Mele Kyari, to seek for more exploration of the Benue Trough, Chad and Anambra Basins for hydrocarbons

Nwosu, former Chairman, Society of Petroleum Engineers (SPE), Nigeria Council, gave the advice while speaking with the News Agency of Nigeria (NAN) in Lagos on Wednesday.

He said that the discovery of coal (hydrocarbons) in the basins would increase the country’s oil and natural gas reserves, boost investment and create jobs.

Nwosu said that although an exploratory well drilled in the Gongola Basin of the upper region in 2003 found no oil, there was the need to continue the exploration of the basins for oil and natural gas.

On the pending Petroleum Industry Governance Bill (PIGB), which has been split into four components, Nwosu said Kyari would leave a legacy should he push for the passage of all the components by the National Assembly.

According to him, the PIGB is the most important area that needs to be given accelerated hearing by the National Assembly because of the numerous investments that will follow its passage.

He said Kyari as an expert in the sector must see to an efficient oil and gas policies, regulatory framework, corporate governance, downstream, transparency of NNPC’s operations, among others.

“He must unlock the refining potential, the country’s regional gas delivery network and issues concerning host community development must be tackled.

“There are many refining technologies and an effective strategy can deliver the country’s domestic and export refining needs by 2030.

“He should take a cue from a company like Waltersmith and how efficiently it is delivering on the Ibigwe modular refinery.

“We can replicate this across the country, including modernising or completely rebuilding the existing refineries,” he said.

 

-NAN

BE

– July 10, 2019 @ 12:00 GMT /

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