Sonatrach oil company in Algeria said it had signed a deal with the Niger petroleum ministry to share production in Niger’s Kafra region, the Algerian state news agency said on Saturday.
Sonatrach International Petroleum Exploration and Production, a subsidiary of the Algerian company, signed the agreement in Niger’s capital on February 4, 2022.
Based on the agreement, Sonatrach will explore two wells, KFR-1 and KFRN-1, with proven oil reserves of about 168 million barrels and 100 million barrels respectively, according to the statement.