Niger says more oil found in CNPC's Agadem

NIAMEY Fri Aug 3, 2012 3:36pm IST

Related Topics

Stocks

   

NIAMEY Aug 3 (Reuters) - Niger has discovered more oil in its eastern Agadem oil fields and the outlook in the northern Bilma block is positive, the president said late on Thursday, without giving any further details.

Agadem is drilled by the China National Petroluem Corporation (CNPC) which also works Bima in partnership with Canadain TVI Pacific's TG World.

Niger, a major uranium miner but one of Africa's poorest nations, joined the continent's club of oil-producing countries when it started pumping oil last year from Agadem in a joint project with CNPC.

Reserves at Agadem, 1,600 km (1,000 miles) east of Niamey, have until now been estimated at 650 million barrels.

"I would like to take advantage of this occaison to inform you that new discoveries have been made, allowing us to increase the oil reserves at Agadem and the outlook for Bilma is very good," President Mahamadou Issoufou said in an independence day speech to the nation on state television.

Oil from Agadem feeds a 20,000 barrel per day refinery in Zinder, 700 km to the west. But Niger is in talks with Chad and Cameroon to export its crude oil out through the two fellow oil-producing nations in Central Africa.

Last month it awarder nine production sharing agreements to five oil firms as it seeks to expand its partners.

"So, Niger has a bright future when it comes to oil," Issoufou said.

FILED UNDER:
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
RAIN4Niger wrote:
Niger’s poverty is one side of the coin, it is home to traditional nomadic cultures that are fast disappearing from the globe. Uranium mining has a bitter history in Niger. Oil threatens to be far worse, ruining the pristine desert environment of the Agadez regions — where the oil is found. Environmentalists and anthropologists everywhere need to make themselves heard now to save the culture and habitat of northern Niger.

Aug 05, 2012 5:45pm IST  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

U.S. Economy

U.S. Economy

Spectre of no-inflation world looms over Fed's return to normal  Full Article 

Insider Trading

Insider Trading

Rengan Rajaratnam, SEC to settle civil insider trading charge.  Full Article 

Market Watch

Market Watch

Betting on the beaten up? Investors pin hopes on stocks in Europe, Japan.  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage