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In the first full year of production, net oil revenues of $131 million represented 42 percent of Chad's national budget.
The government expects to receive $230 million in 2005, when production will be at full capacity.
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Exxon, which in 1993 had found major petroleum reserves in Chad’s Doba Basin in the south, asked the World Bank to give its backing to develop a 1070 km pipeline system to transport Chad’s oil to an offshore loading installation near Kribi, off the Atlantic coast off Cameroon.
The project was estimated to generate US$2 billion in revenue over its anticipated 25-year life and boost the government budget by 45-50 percent a year. These resources could improve living standards if used to reduce poverty and create growth through investments in the social sectors, rural development, and infrastructure. The project would also create new jobs and boost private sector activity. (see original Concept Paper).
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