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 – 2014):

  • US$300m signature bonus paid
  • 2P reserve base of 975 mmbbls established
  • 93 discoveries from 124 exploration wells (75% success rate), with over 225 wells drilled in total
  • Over 18,000km 2D and 11,000km2 3D seismic acquired
  • 463km oil pipeline and the 20kbd Zinder refinery built and commissioned
  • First oil delivered from the Sokor and Goumeri fields (2011) and Agadi (2014)
  • 20% of the Agadem license sold to CPC (2013)
  • c.50% of license mandatorily relinquished (2013)

CNPC/Savannah Era (2014+):

  • July 2014, R1/R2 PSC awarded to Savannah
  • July 2015, R1/R2 RSC awarded to Savannah
  • Savannah now holds c.50% of the original Agadem license area