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The Nigerian National Petroleum Corporation (NNPC) on Tuesday said it has partnered with United States-based Halliburton Corporation to use its innovative Neftex solution to exactly locate viable crude oil deposits in Nigeria’s inland basins.
NNPC explained that with its expected use of Halliburton’s Neftex solution, its ongoing search for commercial hydrocarbon in the inland sedimentary basins would be enhanced, adding that the solution would quicken exploration efforts in the basins.
It stated this at a time its May 2017 monthly financial report indicated that it has progressively continued to cut down on its monthly trading deficits in the last five months, with a N3.55 billion deficit representing 32.65 per cent decrease from that of April.
A statement from NNPC’s Group General Manager, Public Affairs, Mr. Ndu Ughamadu, explained that the corporation’s Group General Manager, RD, Dr. Bola Afolabi, stated in Port Harcourt that the collaboration with Halliburton would help fast-track its inland basin oil exploration efforts using the Neftex solution designed to provide precision in drilling for crude oil.
Afolabi, was quoted to have said Halliburton’s Neftex solution would provide a geophysical mapping structure of Nigeria, and complement NNPC’s ongoing in-house efforts to develop what is known as Turonian Cenomanian Cretaceous source rock for all the basins in Nigeria.
NNPC explained that with its expected use of Halliburton’s Neftex solution, its ongoing search for commercial hydrocarbon in the inland sedimentary basins would be enhanced, adding that the solution would quicken exploration efforts in the basins.
It stated this at a time its May 2017 monthly financial report indicated that it has progressively continued to cut down on its monthly trading deficits in the last five months, with a N3.55 billion deficit representing 32.65 per cent decrease from that of April.
A statement from NNPC’s Group General Manager, Public Affairs, Mr. Ndu Ughamadu, explained that the corporation’s Group General Manager, RD, Dr. Bola Afolabi, stated in Port Harcourt that the collaboration with Halliburton would help fast-track its inland basin oil exploration efforts using the Neftex solution designed to provide precision in drilling for crude oil.
Afolabi, was quoted to have said Halliburton’s Neftex solution would provide a geophysical mapping structure of Nigeria, and complement NNPC’s ongoing in-house efforts to develop what is known as Turonian Cenomanian Cretaceous source rock for all the basins in Nigeria.
