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Wednesday, June 20, 2018
The Niger government approved an amendment to the terms of the PSA covering CNPC’s Agadem Block. The amendment will accelerate the development work on the block, which will allow for exports.
The government’s goal is to increase production from 20,000 barrels per day (bpd) to about 110,000 bpd by 2021, an official statement released to the public said. The amendment also allows for the construction of a pipeline to export that production, which will add to the government’s coffers.
In addition to speeding up this work, according to the government, this amendment will also be used to stabilize the fiscal framework applicable to oil and transport operations in order to allow the contractor to have clear visibility on investment projects and enter into certain financial and tax commitments of the contractor.
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