Nigeria to Partner Schlumberger on Chad Basin Oil Exploration

LAGOS (Capital Markets in Africa) – Nigeria’s state oil explorer said it’s on the verge of a deal with Schlumberger Ltd. to help in its search for commercial deposits in inland basins away from the restive Niger River delta region.

Nigerian National Petroleum Corp. and the world’s largest oil-services provider will carry out joint exploration and risk assessment studies in the frontier basins, including the Chad basin, Babatunde Adeniran, chief operating officer in charge of ventures, said Friday in an e-mailed statement.

A Schlumberger representative in Paris didn’t immediately respond to a phone message.

Nigeria, Africa’s top oil producer, has been expanding exploration away from the oil-rich Niger delta, where militant attacks on infrastructure have reduced the nation’s crude exports. NNPC has said it expects to start drilling soon in the Chad basin in the northeast, a region ravaged by a separate conflict led by Boko Haram insurgents.

The agreement with Schlumberger will cover exploration, reservoir management, reducing drilling costs and safety, Adeniran said.