Gulf Oil and Gas accountACCOUNT

Algeria Boosts Oil Output by 32,000 bpd with Two New Fields

Source: Reuters 8/2/2017, Location: Africa

Share |
OPEC member Algeria has increased crude oil output by 32,000 barrels per day after starting production at two fields, an energy ministry official said.

Production increased on Saturday when the Bir Sebaa field started producing 20,000 bpd in addition to 12,000 bpd from the Bir Msana field in Hassi Messaoud area, the official told Reuters.

Algeria produced an average 1.1 million bpd in July, according to a Reuters survey.

It has struggled to draw foreign oil investment to increase output that has stagnated over the past years, awarding only 4 out of 31 blocks on offer in a bidding round in September 2014.

State energy firm Sonatrach has said it would stick to a plan to invest $90 billion over the next five years despite a crude oil price slump on global markets.

Algeria relies on energy for 60 percent of its budget, and oil and gas exports account for 95 percent of total sales abroad.

Sonatrach holds 25 percent stake, Thailandís PTTEP 35 percent and Petrovietnam 40 percent in the Bir Sebaa field, where reserves are estimated at 758 million barrels.

Sonatrach owns 25 percent stake, Malaysiaís Petronas holds 35 percent and Spainís Cepsa 40 percent in the Bir Msana field, whose reserves are at 144 million barrels.

Production News in Algeria >>

United States >>  2/22/2018 - Sacgasco Limited is pleased to provide this update on production growth from its portfolio of 26 natural gas wells in the Northern Sacramento Basin. ...
Brazil >>  2/21/2018 - Petrobras reports that its total oil and natural gas production in January was 2.70 million barrels of oil equivalent per day (boed), with 2.60 millio...

Trinidad and Tobago >>  2/21/2018 - Range, an international oil and gas company with assets in Trinidad and Indonesia, and an oilfield services business in Trinidad, is pleased to provid...
Iran >>  2/14/2018 - Yadavaran oil field is the only joint field in Iran, where Iran is outperforming Iraq with which it shares the field. More than a year after the first...

Nigeria >>  2/13/2018 - Eland Oil & Gas PLC, an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, is pleased to announce...
Egypt >>  2/12/2018 - BP announced the start of gas production from the Atoll Phase One project, offshore Egypt. The project, in the North Damietta concession in the East N...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Algeria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 |

More News

 

Oil & Gas Companies in Algeria >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.