Algiers — Algeria’s Sonatrach oil company said it had signed an agreement with the Niger petroleum ministry to share production in Niger’s Kafra region, the Algerian state news agency said on Saturday, citing a Sonatrach statement.
Sonatrach International Petroleum Exploration and Production, a subsidiary of the Algerian company, signed the agreement in Niger’s capital on Feb.4, the statement said.
Sonatrach’s works in Kafra cover two exploration wells, KFR-1 and KFRN-1, with proven oil reserves of 168 million barrels and 100 million barrels respectively, according the statement.
*Moaz Abd-Alaziz & Enas Alashray; Editing: Sandra Maler – Reuters
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