Niger seeks to step up oil production with pipeline to coast

sonos sonos One (Gen 2) - Voice Controlled Smart Speaker with Amazon Alexa Built-in - Black read more

NIAMEY, Niger (AP) — Niger has started the construction of an oil pipeline that will link it to the coast through West African neighbor Benin, a project that Niger's president said will bolster the country's economic development.

Calling it one of Niger's most important projects since independence, President Issoufou Mahamadou said the 1,982 kilometer-long pipeline, marks an important step in the Sahel nation's oil production. Nearly two-thirds of the pipeline — just under 1,300 kilometers — will be within Niger, the remainder in Benin.

China National Petroleum Corp., which has operated in Niger since 2011, is tasked with building the pipeline.

The first phase of the construction involves an investment of $4 billion between 2019 and 2021. The total through completion is expected to be $7 billion.

sonos sonos One (Gen 2) - Voice Controlled Smart Speaker with Amazon Alexa Built-in - Black read more

Oil accounts for 4% of Niger's GDP.

all right reserved for yahoo news

Get the latest news delivered to your inbox

Follow us on social media networks

NEXT SEC fines blockchain company Block.one $24 million over coin offering