Thursday, October 24, 2013

Benin discovers 87 mn barrels of oil

Benin said Thursday that it had discovered 87 million barrels of oil
off its coast, a tiny amount compared to neighbouring Nigeria's
reserves, but which could boost the small country's economy.
"We have discovered oil in a significant commercial quantity with
Sapetro company which works on Bloc 1 of the sedimentary basin off
Seme Podji coast", energy minister Barthelemy Kassa told AFP.
Sapetro is a Nigerian gas exploration and production company.
Its chief executive, Daisy Danjuma, wife of a former Nigerian army
chief Theophilus Danjuma, said that first commercial oil production
will begin in late 2014.
Kassa said the discovery would help to finance the country's
development projects.
"It is a historic discovery for our country because this will enable
us to finance our development projects," he stated.

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