Economy - Work on the pipeline to transport Niger’s crude oil to the international market via Chad to Cameroon's Kribi Port kicks off soon, PANA learned on Tuesday from the Niger Oil Ministry.
Niger’s government decided at the end of its council of ministers’ meeting to build the pipeline after several months of negotiations. China-based National Petroleum Corporation (CNPC) carried out the feasibility study for the pipeline project.
In addition, the Nigerien government said it would put in place a new firm tasked with managing the strategic infrastructure whose capital was to be jointly provided by Niger, Chad, Cameroon and China.
The deal for the final choice was sealed on 30 September 2013 in Yaounde between Niger and Cameroon, setting conditions for the transit of Niger’s hydro-fuel through Cameroon.
Niger’s oil reserves are estimated at 480 million barrels.
Thanks to the exploitation of deposits of Agadem, in the eastern part of the country, Niger produces 20,000 barrels of oil per day, a great part of which is aimed for national consumption while the rest is sold to neighboring countries.
In the future, Niamey intends to exploit 59 new deposits which will increase production to 60,000 barrels per day. Niger’s daily need is estimated at 7,000 barrel per day.