Oil Exploration to Start in Chad Basin in Nigeria

Ambit Energy Corporation pic
Ambit Energy Corporation
Image: ambitenergycorp.com

Based in Canada, Ambit Energy Corporation maintains offices in Nigeria and the UK as an oil and gas exploration and production (E&P) company focusing its efforts in West Africa. Ambit Energy Corporation initially targeted the well-known Niger Delta Basin in Nigeria.

In a recent news release, Reuters reported that Nigeria hopes to find oil in the Chad Basin, which is in the northeastern region of the country. The state oil company is planning to launch exploratory drilling projects in the last quarter of 2016.

A spokesman from the Nigerian National Petroleum Corporation (NNPC) explained that exploration in the Chad Basin is designed to capitalize on hydrocarbon prospects in the Nigerian inland basin, provide new investment opportunities, create jobs, and stimulate the economy.

According to Nigeria’s minister of state for oil and the chief of NNPC, Emmanuel Ibe Kachikwu, seismic studies are still ongoing in the region. The country’s oil leader alerted the public in 2015 that it was investigating a potentially significant oil find in the Chad Basin.