Niger signs oil exploration agreement with Nigerian company

November 3, 2012

Africa, Business, International

Niger signs oil exploration agreement with Nigerian company

Xinhua

NIAMEY — Niger’s Petroleum Minister Foumakoye Gado has signed a Production Sharing Agreement (PSA) with a Nigerian company, Sirius Energy Resources Ltd. The agreement allows the company to carry out oil exploration in Gerin Block, which is situated in the northwestern oil fields of Agadem, a source from the ministry said on Thursday.

The agreement allows the Nigerian firm to exclusively search for oil in the Gerin Block for a renewable term of four years. Following the signing of the agreement, the Nigerian company will pay to the government a bonus of 5 million U.S. dollars.

It is committed to carry out the exploration exercise to show the evidence of the potential of oil resources in the concerned block. This is the second PSA signed by Niger after the first was inked in 2008 with the China National Oil and Gas Exploration and Development Corporation (CNODC), which led to the discovery of huge oil deposits in the Agadem block.

According to the same source, the contracts for other oil blocks will soon be signed with other companies in order to intensify oil exploration in Niger.

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Sirius Group was Nigeria’s fastest growing group of companies in 2011, with interests in oil and gas, power generation, real estate, shipping and financial services.

Group of companies

Sirius Energy Resources is dedicated to trading of a wide range of petroleum products including: AGO [Automotive Gas Oil], PMS [Premium Motor Spirit], LPFO [Low Pour Fuel Oil], DPK [Dual Purpose Kerosene], ATK [Aviation Turbine Kerosene], LPG [Liquefied Petroleum Gas] and various lubricating oils and greases, within Nigeria and sub-Saharan Africa.

Sirius Oil Field Support Services provides trusted logistics and technical support for our clientele engaged in oil field exercises like exploration, refining and marine engineering.

Sirius Global Agencies is actively involved in marine charter service for many Oil and Gas concerns and marine trade in Nigeria and Sub-Saharan Africa. It also represents foreign corporations in Nigeria while handling the Group’s charter demands. As a provider of service vessels to the expanding offshore oil and gas industry, mostly across West Africa and Europe, Sirius Global Agencies offers a diverse range of Off/On Shore Vessels: Tankers, Utility Vessels, Tugs, Barges and Speed Boats to a range of clientele operating across diverse phases of the Off/On shore oil and Gas cycle, Importation, Exportation, Quality and Quality assessment and Inspection Agencies.

Sirius Investment Company is the holding arm of Sirius Group. She is concerned with company acquisitions and properties. She oversees company mergers, trade alignments, take-overs and securities and is also actively involved in real estates and trade opportunities, FOREX and Stocks on behalf of the Group and her affiliates. We have real estate investments in Lagos, Abuja, South Africa, Dubai and United Kingdom.

Sirius Electricity Development and Distribution Company, is a Nigerian Corporation and a member of the Sirius Group. It was established in 2010 with the aim of providing energy needs (Electricity Development and Distribution) in Nigeria.

CORPORATE HEADQUARTERS OFFICE:
Victoria Island,  Lagos – Nigeria

UNITED KINGDOM
Berkeley Square, London

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Niger


Population: 16,344,687 (July 2012 est.)

Niger is slightly less than twice the size of Texas

Religions:
Muslim 80%, other (includes Traditional African Religion and Christian) 20%

Ethnic groups:
Haoussa 55.4%, Djerma Sonrai 21%, Tuareg 9.3%, Peuhl 8.5%, Kanouri Manga 4.7%, other 1.2%

Niger has exported uranium for decades but, perched on the edge of the Sahara, remains one of Africa’s poorest nations and frequently battles droughts and food shortages.

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Niger’s Agadem oil reserves

Reserves at Agadem is located 1,600 km (1,000 miles) east of Niamey

Agadem is drilled by the China National Petroluem Corporation (CNPC) which also works Bima in partnership with Canadain TVI Pacific’s TG World.

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Video: Niamey, Niger
Population: approx 1 million

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Video: Sand storm in Niamey June 2012

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About Dilemma X

Dilemma X, LLC provides research dedicated to the progression of economic development. Our services aid clients in enhancing overall production statistics. Please visit http://www.dilemma-x.com for more information

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