Algeria Expects 4.1 Pct Rise in Oil And Gas Exports in 2015

Source: Reuters 10/7/2015, Location: Africa

Algeria expects a 4.1 percent rise in oil and gas exports this year to 195 million tonnes of oil equivalent, after achieving increased yields at its Hassi Rmel, Hassi Messaoud, Berkine and El Merk fields, a presidential statement said.

Algeria, a North African OPEC member and major gas supplier to Europe, has struggled in recent years to draw the foreign oil investment it needs to help increase stagnating energy production.

The statement said energy output peaked at 233 million tonnes of oil equivalent in 2007 before steadily declining to 187 million tonnes by 2012. But hydrocarbon output is expected to reach 224 million tonnes of oil equivalent by 2019.

It attributed the improvement to better recovery rates at Hassi Messaoud and Hassi Rmel, as well as acceleration in exploration at developments in Ahnet-Tidikelt, Tinhert, Timimoun and Reggane.

Algeria is struggling with a dramatic fall in energy revenue after world oil prices fell sharply this year. Energy output makes up 95 percent of the state budget and around 60 percent of the country's exports.

Amine Mazouzi, chief of state energy firm Sonatrach , said on Monday the company planned to maintain most of its planned investments, but would look at reducing costs. He said the company would focus on increasing output capacity for crude and gas and on refineries and petrochemicals.

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


Argentina >>  6/27/2022 - The upstream energy firm with a focus on Latin America, Echo Energy plc, reports that AIM Regulation has given the company an extra two months to publ...
United States >>  6/27/2022 - The oil exploration, development, and production company Mosman Oil and Gas Limited ( MSMN) is happy to deliver the following operational update. ...

Canada >>  6/24/2022 - ReGen III Corp. is pleased to provide the following updates regarding its Sale, Purchase and Marketing Agreement with bp.

On May 1, 2021, ...

Iraq >>  6/24/2022 - Gulf Keystone, a prominent independent operator and producer in the Kurdistan Region of Iraq, delivers an operational and corporate update ahead of to...

Nigeria >>  6/23/2022 - ADM Energy PLC, a natural resources investing company, announces its audited full year results for the 12 months ended 31 December 2021.

I...

Tanzania >>  6/22/2022 - Prior to today's Annual General Meeting ("AGM"), Wentworth, an independent natural gas production company with a focus on Tanzania, is delighted to pr...

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  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.