|Want to teach yourself about the oil industry?||"Teach Yourself Oil" Unit 0|
|Oil Reserves||Est. 324 million barrels|
|Oil Production||20,000 bpd (Jan 2012)|
|First Produced||28 November 2011|
|Location||Diffa Region, Niger |
|Principal Partners||China National Petroleum Corporation |
The Agadem Block is part of the Termit-Ténéré Rift formation. 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.. The production sharing agreement (PSA) confirmed CNPC's involvement in exploration and production at the Agadem Oilfield, as well as pipeline and refinery construction. 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.
The Agadem Oilfield began producing in November 2011, with production estimated to reach a capacity of 20,000 barrels per day (bpd) in 2012. 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).. The state-owned national petroleum products company Société Nigerienne de Produits Petroliers (SONIDEP) will undertake the marketing of the nation's refined products.
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