Oil discovery in Chad Basin realistic — FG

The Executive Secretary, Petroleum
Technology Development Fund, PTDF, Dr. Oluwole
Oluleye, has said that the discovery of oil in
neighbouring Niger and Chad Republic has given an
encouraging prospect that oil discovery in the
Nigeria’s sedimentary basins is realistic.
Oluleye, who said this at the  close out seminar of
the 2011/2013 Annual Oil and Gas Research Grant
Competition in Abuja, was optimistic that the
development will boost the nation’s oil reserves.
He stated further that findings from the research
conducted on the Nigerian section of the Chad Basin
revealed that oil discovery in the sedimentary
basins is realistic and achievable.
According to him, “I want to use this opportunity to
inform this gathering that adequate attention shall,
henceforth, be given to renewable and
unconventional energy in our grants. The discovery
of oil in neighboring Niger and Chad Republic has
given an encouraging prospect of oil discovery in
the Nigerian sedimentary basins. This no doubt will
boost the Nation’s oil reserve.
“While progress is made in the discovery of fossil
fuels in the Chad Basin, we should not lose sight of
the fact that there is a global shift to
environmentally source of energy. In this regard
the Fund will sponsor more researches on the
production of biofuels and biogas from non-edible
fruits.
“Resources have been committed in this area and I
am glad to inform you that the result has been
positive although more work needs to be done, as
we continue our efforts at ensuring biofuel
production on a commercial scale in the next
research cycle.
“The Fund has already endowed professorial chair
on renewable energy in the University of Benin and
the successful research work of Dr. Frank Oroka
and his team further shows our effort in this
direction. Findings from the research of Prof. John
Adekoya and his team on the Nigerian sector of the
Chad Basin shows further that oil discovery in the
sedimentary basins is realistic and achievable.
“I wish therefore to call on National and
International Oil Companies to cooperate with PTDF
sponsored researchers by providing them with
relevant data and other assistance when needed.
This will aid the solving of specific industry
problems; enhance job creation and knowledge
transfer in – country.
Oluleye, who was the pioneer Executive Secretary
of Petroleum Products Pricing and regulatory
Agency, PPPRA, said the sponsorship of indigenous
research into critical areas of the petroleum
industry is an aspect of PTDF’s intervention
programmes to develop capacity for the industry.