Petroleum Africa
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Tuesday, October 7, 2014
Chad is hoping to see a rebound in the next year not only in GDP, but also in oil production. The country’s Minister of Planning, Economy, and International Cooperation Kordje Bedoumra said that the country expected to see its growth rate increase from 3.5% to 11-13% this year.
Bedoumra told Reuters, “We are more or less at around 100,000 bpd, and our expectation is that by the end of this year we can move to 130,000 bpd and by the end of next year probably double that production because we will have new fields.” The Mangara and Badila fields will see a hike in production as well as a new field managed by CNPC’s subsidiary.
However, Chad and CNPC’s relationship hit a snag as the country sought arbitration, suing the Chinese firm for $1.2 billion for environmental standards.
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