How Nigeria Can Deepen Oil Exploration – Chevron Boss
Jeff. Ewing, Chairman/Managing Director Chevron Nigeria/Mid-Africa Strategic Business Unit, has said that Nigeria still has significant opportunities to find new oil and gas resources. He disclosed this in his opening remarks during the Opening Ceremony of the Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference on Tuesday 21st November 2017 at the Eko Hotels & Suites, Victpria Island, Lagos.
He also said the nation’s oil industry has an opportunity in rejuvenating old frontier basin exploration, to discover impact resource additions for strategic reserves replacement and growth.
He noted that the requisite growth of oil and gas resources in the country could be achieved through Regional Geological Assessment of the Niger Delta basin; new thinking and technology in seismic acquisition and seismic processing; deep drilling and prospecting, as well as cost-efficient future developments.
‘’It is evident that there is significant unpenetrated and undiscovered hydrocarbon resource and reserves just below existing infrastructure. Average drill depth below mudline in the Niger Delta is approximately 10,000 to 12,000 feet’’, he added.
He also emphasised the need to build a robust inventory of drill ready prospect portfolio in readiness for more favorable oil price and globally competitive fiscal policy.
He also spoke on NAPE’s role in achieving oil and gas industry objectives, saying the group is well-positioned to encourage industry-academia collaboration for local research and development and provide a platform for the articulation of ideas that will help advance the oil and gas industry and the nation’s economy.
According to Ewing, Chevron Nigeria has continued to sustain efforts towards delivering exploration and production projects and activities as well as making significant investments in gas projects in the country.
Culled from Independent Newspapers Limited: www.independent.ng