Gulf Oil and Gas accountACCOUNT

Algeria's Sonatrach Signs $500M Deal with BP & Statoil

Source: Reuters 12/20/2017, Location: Africa

Share |
Algerian state-owned energy company Sonatrach has signed an agreement with BP and Statoil to produce an additional 11 billion cubic metres (bcm) of natural gas from its Tiguentourine gas field, Sonatrach’s CEO said.

The field produces 9 bcm per year, but more investment is needed to maintain that output beyond 2035.

“Sonatrach, British Petroleum, and Statoil have signed a deal to invest $500 million to recover an 11 billion cubic metre (bcm) additional reserve,” Sonatrach CEO Abdelmoumene Ould Kaddour told reporters during a signing ceremony at Sonatrach’s headquarter.

The field has produced 78 bcm of gas involving an investment of $3.4 billion since opening in 2006, Sonatrach figures show.

Algeria’s annual gas production stands at 94 bcm, according to official figures.

For more information about related Opportunities and Key Players visit Algeria Oil and Gas Projects

Production News in Algeria >>

Kuwait >>  1/17/2018 - Kuwait’s oil minister Bakhit al-Rashidi said there is no plan or intention so far to exit from a production-cutting agreement among OPEC and non-OPEC ...
Nigeria >>  1/17/2018 - 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...

Russia >>  1/16/2018 - Exillon Energy plc (Exillon Energy), a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") ...
United States >>  1/16/2018 - Talos Energy LLC (Talos) announced initial production from the Tornado II deep water well (GC 281 #2ST), located in the Phoenix Field of the Green Can...

United Kingdom >>  1/15/2018 - Angus Energy, a conventional oil and gas production and development company, has announced that it will resume conventional production from two curren...
Iran >>  1/12/2018 - Serica Energy plc (SQZ) is pleased to report that it has been informed by BP Exploration Operating Company (“BPEOC”), as operator of Bruce, Keith and ...

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 |

Oil & Gas Projects in Algeria >>

More News

 

Oil & Gas Companies in Algeria >>


Related Links

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