Niger Says Kafra Oil Block May Hold 2.5 Billion Barrels
Niger's oil minister said active drilling has begun at the Kafra block, which could become a key area of cooperation with Algeria.
Niger's oil minister held a press conference on Wednesday to discuss the country's oil reserves and their potential role in national development, according to France 24.
The minister said the Kafra oil block could hold an estimated 2.5 billion barrels of oil, and that active drilling has already begun in the zone, France 24 reported.
Most of Niger's current oil production is operated by Chinese companies, according to the report. However, the Kafra block is described as a potential cornerstone for economic cooperation between Niger and neighbouring Algeria.
France 24 correspondent Harold Girard reported on the announcement and its significance for Niger's energy sector.
Further details on the timeline for development of the Kafra block, investment figures, or specific agreements with Algeria were not provided in the report.
Sources
- Niger: Kafra oil block could hold 2.5 billion barrels — France 24 — English
EGazette summarizes reporting from multiple sources; follow the links for the originals.
Related articles
Venezuela's PDVSA Signs Energy Cooperation Deal with TotalEnergies Subsidiary
Acting President Delcy Rodriguez oversaw the signing of an agreement between state oil company PDVSA and TotalEnergies E&P New Ventures in Caracas, according to Anadolu Agency.
Two European refineries to lose Saudi Aramco oil shipments in October due to pipeline strikes
Saudi Aramco says it cannot supply two European refineries in October following Houthi attacks on Saudi Arabia's East-West pipeline.
Ukrhydroenergo expects €21M EIB tranche for hydropower plant repairs
Ukraine's state hydropower operator anticipates the first funding installment from the European Investment Bank to restore equipment and boost operational resilience.
Russia Casts Doubt on Armenia's Reasons for Nationalizing Electric Networks of Armenia
A senior Russian diplomat said Yerevan's move to take over the power distribution firm appears politically motivated rather than justified on the grounds cited by Armenian authorities.
US Energy Secretary Signals Possible Expansion of Oil Reserve Loans Amid Price Surge
Chris Wright says steep market backwardation could prompt the Energy Department to offer the remaining 38.5 million barrels available under an existing crude loan program.
Northern Ireland Economy Minister Accuses UK Minister of 'Mischief Making' Over Electricity Bill Post
A social media exchange over funding for a one-off electricity bill reduction has sparked a dispute between Stormont's economy minister and a UK government minister.
Comments
Loading comments…