Chad to double oil output by 2016, develop minerals: Minister

 

Chad Finance minister says, the country expects to double its oil production by the end of 2015 as new fields come on stream and has appointed firms to inventory potential mineral deposits in an effort to diversify the economy.

The former French colony, one of the poorest nations in the world, has been rocked by humanitarian crises over the past decade including conflicts in the east and south, drought in the arid Sahel region and flooding.

That has been compounded since 2012 by instability on its borders with Libya, Nigeria and Central African Republic, forcing Chad to increase its security budget to handle thousands of new refugees and counter a growing cross-border threat.

Kordje Bedoumra, told Reuters that the country expected a rebound in the growth rate this year to 11-13 percent and double digits again in 2015 as oil production ramps up.