SIPEX BVI, MPERE sign production sharing agreement for Kafra field
APS : Saturday, 12 February 2022
ALGIERS – The national hydrocarbons company Sonatrach announced Saturday, in a statement, the signing of an updated production sharing agreement of hydrocarbons of the Kafra field in Niger between its subsidiary Sonatrach International (SIPEX BVI), and the Ministry of Petroleum Energy and Renewable Energy of Niger.
The signing of this agreement took place on February 4 in Niamey (Niger), in the presence of the Algerian ambassador to Niger, said the same source.
This agreement aims to provide for a better assessment of the hydrocarbon resources of the Kafra field following the discovery of oil from the exploration drilling,” the source added.
In this regard, the national company reported that the first exploration well KFR-1, drilled in 2018, led, in addition to the discovery of oil, the presence of heavy oil reservoirs (density 0.99), for a volume in place in P2 of 168 million barrels.
The second well, KFRN-1, drilled in 2019, revealed 400 million barrels of very rich kerosene oil (Waxy Oil) with a density of 0.88 to 15.56.
The volumes of oil updated at the end of the second drilling, are about 100 million barrels in place in 2P, added the national company.
The subsidiary SIPEX BVI operates in the upstream activity in several countries in Africa (Algeria, Tunisia, Libya, Mali, Niger) and Latin America (Peru), where it has interests in oil and gas projects as an investor or an operator, recalled the company.