09 August 2014, News Wires – All is virtually set for Niger to begin exporting oil through Chad and Cameroon in 2016. This follows an agreement reached with Chad on the laying of a pipeline from Niger through its territory as a follow-up to an earlier accord with Cameroon for Niger crude oil to be exported at Kribi on the Atlantic coast through the current Chad-Cameroon pipeline run by COTCO.
Making the announcement recently, President Mohamadou Issoufou, expressed hope that Niger’s oil exports would soon reach 80,000 barrels per day to enable the country make more money for its development. The Oil Ministers of the two countries recently reached an understanding on the matter, he revealed. Niger, which is one of Africa’s newest oil producers, began pumping oil in 2011 as part of a 5 Billion US Dollar (about FCFA 2,451 Billion) deal with China National Petroleum Corporation, CNPC, to develop the Agadem Block.
With production from Agadem in the north-eastern part of the country, CNPC supplies 20,000 barrels a day to the SORAZ Refinery in Zinder, a joint venture between Niger and China. Given that total national demand is only 7,000 barrels, the remaining 13,000 barrels are available for export. Government last November allocated 59 new oil reserves in Agadem to CNPC. Government Spokesman and Minister of Justice, Marou Amadou, said production could reach 1 billion barrels.
– Cameroon Tribune