10.000
%
Uncertain
123
mm boe
0
%
Earlier drilling successes raised Niger's profile, but the junta's nationalisation of Orano's uranium mine, disputes with CNPC over the export pipeline and persistent jihadist attacks have overshadowed the stability of the licensing regime. Outlook amended from Uncertain because expropriation and disputes with the main operator point clearly to deterioration. Outlook: Negative. Risk premia raised from 6.5% to 10%.
October 8, 2026
Africa - Central
mm bbl
bcf
Western Africa, southeast of Algeria.
PSC/PSA
Simple Production Sharing Contract ("PSC")-based fiscal regime. Royalty and cost recovery rates are fixed. Profit oil is split between contractor and government on a sliding scale linked to project profitability (the R-factor). The contractors liability for income tax is paid on its behalf from the government share of profit oil.
General Abdourahamane Tiani's junta granted itself a five-year transition in 2025. Niger has left ECOWAS for the Alliance of Sahel States and faces persistent jihadist attacks. The FCDO advises against all travel, and the nationalisation of Orano's Somaïr uranium mine highlights severe expropriation risk. The EIA notes that crude exports via CNPC's Niger–Benin pipeline began in 2024, but have been disrupted by disputes with Benin and with CNPC.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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