This was made known by Chad’s Finance Minister, Kordje Bedoumra.
The proposed increased is hinged on the fact that new oil fields are expected to come on stream. To effectively reach this goal, the country has appointed firms to inventory potential mineral deposits in an effort to diversify the economy.
Chad has seen strong growth over the past decade as it has become an oil producer, although GDP growth slowed to 3.5 percent in 2013 due primarily to lower income from ageing wells in its Doba oilfield.
Speaking to Reuters, Bedoumra, made known that the country expected a bounce back in the growth rate this year to 11-13 percent and double digits again in 2015 as oil production ramps up.
“We are more or less at around 100,000 barrels per day (bpd),” he said in an interview at an OECD forum on Africa.
“Our expectation is that by the end of this year we can move to 130,000 bpd and by the end of next year probably double that production because we will have new fields.”
Bedoumra said output would increase from the Mangara and Badila fields, which are operated by mining company Glencore Xstrata, and a new field managed by a China National Petroleum Corporation (CNPC) subsidiary.
Bedoumra also said Chad was finally trying to unlock other mineral resources after appointing firms, including French consultancy BRGM on a 3.5 year contract, to identify potential sites.
“It’s not just oil that we have underground. There are strong indications of gold, nickel, uranium and other minerals. We appointed consultants to identify what there is,” he said.
He said GPB Global Resources, a unit of Russia’s state-owned Gazprombank Group which in 2012 was awarded a five-year licence to explore for gold in southern Chad, had seen “positive” results and could begin exploiting its field in 2015.
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