Niger and CNPC signed a $400 million deal

Niger and the China National Petroleum Corporation (CNPC) signed a memorandum of understanding worth $400 million to transport crude oil from the Agadem field. The project plans to export 90,000 barrels of oil per day, of which 25.4 per cent will go to Niger.
The Prime Minister of Niger, Ali Mahamane Lamin Zein, stressed the importance of Sino-Niger cooperation at the signing ceremony. Chinese Ambassador Jiang Feng noted that the agreement demonstrates strong friendship and fruitful cooperation between the countries.
The export pipeline connecting the Agadem field to the Cotonou port in Benin was put into operation last November and is managed by CNPC PetroChina. Niger owns 15% of the pipeline. Prior to its launch, there was only one Soraz refinery in operation, producing about 20,000 barrels per day for the domestic market. The pipeline launch is expected to increase production to 110,000 barrels per day. The first shipment could be delivered in April.