Niger settlement could kick off $55 million program

09/27/2004
A $55 million exploration program on the 8.6 million acre Tenere Block along the Central African Rift in eastern Niger is in the works after the licensees settled differences.A unit of China National Petroleum Co. will operate the block and carry the Niger unit of TG World Energy Corp., Calgary, for 20% of the 4-year work program. CNPC will pay TG World $1 million in back costs.The new agreements are subject to government approval. The government had canceled TG World's rights to the block and awarded operatorship to CNPC (OGJ, Mar. 8, 2004, p. 38).The work program calls for acquisition of 1,500 km of seismic surveys and drilling three exploration wells. Seismic work is to start in 20...
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