Gulf Oil and Gas accountACCOUNT

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

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

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 >>

India >>  4/1/2020 - McDermott International, Inc. announced that early first gas has been achieved on India's Oil and Natural Gas Corporation's (ONGC) 98/2 Block in the K...
Australia >>  3/31/2020 - Cooper Energy provides the following update on the status of the Sole Gas Project and the impact of COVID-19 on operations and plans. ...

Netherlands/Holland >>  3/31/2020 - This is an update to the first quarter 2020 outlook provided in the fourth quarter results announcement on January 30, 2020. The impacts presented her...
Norway >>  3/30/2020 - The North Sea Johan Sverdrup field expects to reach plateau production for the first phase in early May, earlier than anticipated. Due to higher plant...

United Kingdom >>  3/27/2020 - First gas from the new C6 well at Spirit Energy’s Chiswick field in the Southern North Sea was achieved on 11 March 2020 and has added up to an additi...
China >>  3/25/2020 - CNOOC Limited announced its 2019 annual results for the year ended December 31, 2019. In 2019, CNOOC Limited has achieved remarkable results, with mul...

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  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Algeria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |

Oil & Gas Projects in Algeria >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.