SONATRACH, through its subsidiary SONATRACH International (SIPEX BVI), proceeded on February 04, 2022, in Niamey (Niger), with the Ministry of Petroleum, Energy and Renewable Energies of the Republic of Niger, and in the presence of His Excellency the Ambassador of Algeria to Niger, at the signing of the updated Production Sharing Contract for the Kafra block.
This contract is considered as an update and renewal of the contract signed in 2015 and aims to allow a better assessment of the hydrocarbon potential of the Kafra block following the discovery of oil following exploration drilling.
It should be noted that the first KFR-1 exploration well, drilled in 2018, showed, in addition to the discovery of oil, the existence of heavy oil reservoirs (density 0.99), for a volume in place in P2 of 168 million barrels.
The second KFRN-1 well, drilled in 2019, revealed 400 million barrels of oil very rich in paraffin (Waxy Oil) for a density of 0.88 at 15.56°.
The updated oil volumes following the second drilling are around 100 million barrels in place in 2P.
As a reminder, SIPEX BVI is involved in upstream activity in several countries in Africa (Algeria, Tunisia, Libya, Mali, Niger) and in Latin America (Peru), where it holds interests in oil and gas projects as investor and/or operator.
