Agadem Oilfield

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Oil Reserves Est. 324 million barrels[1]
Oil Production 20,000 bpd (Jan 2012)[2]
Discovered 1969[3]
First Produced 28 November 2011[4]
Location Diffa Region, Niger [5]
Principal Partners China National Petroleum Corporation [3]

Background

The Agadem Block is part of the Termit-Ténéré Rift formation.[6] In June 2008 CNPC signed an agreement with the Niger state to invest US$ 5 billion with the drilling of a minimum of 18 exploration wells before 2016.[1]. The production sharing agreement (PSA) confirmed CNPC's involvement in exploration and production at the Agadem Oilfield, as well as pipeline and refinery construction.[3] In July 2011 Niger's government reported that as exploration continues on the [Agadem Block], oil reserves could prove to be three times higher than the previous estimates of 324 million barrels, although no figure has been placed on a revised estimate.[7]

Production Activities

The Agadem Oilfield began producing in November 2011, with production estimated to reach a capacity of 20,000 barrels per day (bpd) in 2012.[8] The Agadem Block will also provide the Soraz Oil Refinery with gas, with an expected yield of 44,200 tonnes of liquefied petroleum gas (LPG).[9]. The state-owned national petroleum products company Société Nigerienne de Produits Petroliers (SONIDEP) will undertake the marketing of the nation's refined products.[10]

References

  1. 1.0 1.1 CNPC beats out seven companies for Niger’s Agadem Block" IHS - Information Handling Service, retieved 28 March.
  2. "Africa's New Oil Exporting Nation" Development and Cooperation, retrieved 02 April 2012
  3. 3.0 3.1 3.2 "Project Overview" CNPC, retrieved 02 April 2012.
  4. "As refinery opens, Niger joins club of oil producers" AFP, retrieved 28 March 2012.
  5. "Rebels warn Niger and China over oil deal" AFP, retrieved 02 April 2012.
  6. "The Ténéré Project, Niger" TG World Energy Corporation, retrieved 28 March 2012.
  7. "Niger says oil reserves may be triple previous estimate" Reuters Africa, retrieved 28 March 2012.
  8. "Oil, Uranium Projects Brighten Medium-term Prospects in Niger" International Monetary Fund, retrieved 25 March 2012.
  9. "Exploitation pétrolière au Niger, comment en optimiser les retombées?" Cri de Cigogne, retrieved 28 March 2012.
  10. "Niger refinery faces stocking, export problems" Reuters, retrieved 28 March 2012.