The company said in a statement that it would resume exploration activities in “the next couple of days” in light of the “remarkably improved security situation” in the region.
According to E&P Magazine, the Nigerian government invested $240 million dollars in oil and gas exploration in the Lake Chad Basin and other parts of northern Nigeria, but that plans for exploration were brought to a halt by the Boko Haram insurgency in 2014.
A US Geological Survey assessment in 2010 suggested the Chad Basin, which stretches across northern Nigeria as well as Chad and Niger, could contain 2.3 billion barrels of undiscovered oil reserves and 413 bcm (14.6 tcf) of natural gas.
Click here for more news and features from Nigeria.
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
SLB OneSubsea and Subsea7 have signed a long-term strategic collaboration agreement with Equinor and begun work on two of its… Read More
Presight has acquired a 51% shareholding in AIQ, an energy-focused AI player founded by ADNOC and G42, the companies announced… Read More
UK engineering contractor Wood has been awarded a decarbonisation project by TotalEnergies to support flare gas recovery in the North… Read More
This website uses cookies.