BY CHRIS OCHAYI
ABUJA: 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.