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Niger

The Company’s licence interests in Niger are located in the highly prospective Agadem Rift Basin in South East Niger covering an area of approximately 13,655km2.

Niger Map

Agadem Rift Basin History

Pre-CNPC Era (1975 – 2004):

  • 5 discoveries made from 25 exploration wells (20% success rate)
  • Largely dominated by major oil companies

CNPC Era
(2008+):

  • 110 discoveries from 137 exploration wells (80% success rate)
  • c.1bn bbls 2P reserves base established
  • Over >18,000km 2D and 13,000km2 3D seismic acquired over the original Agadem PSC
  • A 20Kbopd refinery built at Zinder linking it to the Agadem Rift Basin via a 463km pipeline
  • First oil delivered from the Sokor and Goumeri fields (2011) and Agadi (2014)
  • Establishment of major logistics and infrastructure hubs
  • 20% of the Agadem license sold to CPC (2013)
  • 50% of the original Agadem PSC Area mandatorily relinquished (2013)

Savannah Era (2014+)

  • July 2014, R1/R2 license awarded to Savannah
  • July 2015, R3/R4 license awarded to Savannah
  • 36,948km FTG survey acquired over both PSCs (2014/15)
  • 806km2 3D seismic survey acquired over a portion of R3 (2016/17)
  • 5 discoveries from 5 exploration wells, a 100% success rate (2018)
  • Gross 2C Resources of 35.0 MMstb for the R3 East discoveries with an additional 90MMstb of Gross Unrisked Prospective Resources (Best case) within tie-in distance to the planned R3 East facilities1
  • Exploration portfolio containing a total of 146 leads and prospects to date with a total Unrisked Best Estimate of c. 6.7 bn bbls Oil Initially In Place1
  • Unrisked Prospective Resources (Best case) of 360 MMstb1 for a subset of 11 out of 146 leads & prospects1
  • R3 East Early Production System (EPS) to be implemented within the next 12 months, market conditions and financing permitting. The EPS is expected to deliver from a first phase production of up to 1.5 Kbopd, with a second phase anticipated to potentially increase production up to 5.0 Kbopd
  • Savannah has agreed with the Ministry of Energy and Petroleum that the R4 area, which was relinquished at the end of the initial Exclusive Exploration Authorisation in accordance with the terms of the R3/R4 PSC, will be combined with the R1/R2 PSC Area into a new R1/R2/R4 PSC to be issued under the Petroleum Code 2017, thus retaining the full acreage position previously covered by the R1/R2 PSC and the R3/R4 PSC and extending the licence for a further 10 years*
  • Basin-wide Niger-Benin export pipeline project, launched by CNPC in September 2019 and to be completed in 2022, should allow Savannah to monetise future ramp up in oil production

1. Source: Niger Competent Person’s Report,  CGG Services (UK) Limited ‘(CGG’), April 2020.

Our PSC Areas

CGG recognise a total of eleven exploration Prospects and Leads, for which Prospective Resource estimations have been made. Five of these are located on the R3/R4 PSC, with an aggregate gross Best Estimate resource potential of c. 90 MMstb. Three of these are deep exploration targets in the Cretaceous Yogou formation below the shallower discoveries at Bushiya, Amdigh and Eridal. Two further undrilled Leads are identified on the western edge of the R3/R4 PSC, with prospectivity in the Sokor as well as the deeper Yogou formation.

A further six undrilled exploration prospects and leads have been assessed by CGG in the R1/R2/R4 PSC*, within the R1/R2 area to the north west of the R3/R4 PSC. These all have exploration potential throughout the section and have a larger aggregate gross resource potential of 270 MMstb (Best Estimate). Two of these features, Kunkuru and Damissa, are covered by 3D seismic and are thought to have a high chance of exploration success (>75%).

Further material resource additions are expected in our next drilling campaign targeting some of the 146 leads and prospects which have been identified on the Savannah PSC areas. Most leads and prospects are composed of stacked targets in the Upper Sokor, Sokor Alternances and Yogou formations which will be accessible from a single well trajectory.

CGG have also undertaken a geological Yet-to-Find analysis, covering all exploration plays across the Savannah acreage, which suggests that on a Best Estimate, risked basis around 2.7 Bnbbls of oil resources could be anticipated.

* Ratification of the new R1/R2/R4 PSC is subject to Council of Minister approval, and payment of the associated fee.