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
"It is a historic discovery for our country because this will enable
us to finance our development projects," he stated.