By Daily Trust
Nigerians got unusually cheering news recently when the Nigeria National Petroleum Corporation (NNPC) announced that it "may well be on the verge of a significant oil find" in the Lake Chad basin. NNPC's Group Managing Director and Minister of State for Petroleum Dr. Ibe Kachikwu said the news was hinged on seismic data generated from the Chad basin. He said, "There are signs from the latest 3D seismic studies that oil may well be very close to being found now in Lake Chad after many years of trials." He described the potential find as "very key." "I am optimistic that by the end of the year we should be able to announce something major on this," he said. Read more
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