Chad plans oil licensing round for about 20 blocks

Jul 11, 2006 02:00 AM

Chad's oil minister said that his country plans an oil licensing round in 2007 for around 20 of the country’s oil blocks.
"This is what we are targeting," Mahamat Nasser Hassane told on the sidelines of an industry event in London. "It could change but we are planning to announce this by the end of the year."

He said Chad is currently producing 170,000 bpd of oil and is targeting 400,000 bpd by 2010.
Chad became an oil-producing nation in 2003 with the completion of a $ 4 bn pipeline linking its oilfields to terminals on the Atlantic coast.

Source: Dow Jones Newswires
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