The SIPEX BVI subsidiary is involved in upstream activity in several countries in Africa (Algeria, Tunisia, Libya, Mali, Niger) and in Latin America (Peru)
SIPEX BVI signs a production sharing contract for the Kafra block. (Credit: SONATRACH)
The national hydrocarbons company SONATRACH announced on Saturday, in a press release, the signing of an updated production sharing contract for hydrocarbons from the Kafra block in Niger between its subsidiary SONATRACH International (SIPEX BVI), and the Ministry of Petroleum. , energy and renewable energies of Niger.
The signing of this contract was carried out on February 4 in Niamey (Niger), in the presence of the Algerian ambassador to Niger, said the same source.
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 the exploration drilling work”, the statement added.
In this regard, the national company announced 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 to 15.56.
The updated oil volumes at the end of the second drilling are around 100 million barrels in place in 2P, mentioned the national company.
The SIPEX BVI subsidiary 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 an investor and / or operator, we recalled in the press release. (APS)
Source: Company Press Release