Chairman of the company, Alhaji Bashir Dalhatu, stated this while briefing journalists at NNDC’s 47th Annual General Meeting (AGM) in Kaduna. Dalhatu said the company was collaborating with its technical partners and the Nigerian National Petroleum Corporation (NNPC), on the expertise and budgetary requirements for the take-off of the project.

The company’s Group Managing Director (GMD), Alhaji Ahmed Musa, further said NNDC could not commence the project as earlier planned due to the security situation in the region. Musa said NNDC was also previously constrained by financing.

The GMD however said the NNDC would open the exploration in the four oil block s allocated to it in the Lake Chad Basin, while plans were underway to acquire four more oil blocks in the region.