Algeria

Number 14
Algeria

Algeria, which has doubled its crude oil production over the past seven years, is aiming to increase its output by another 40 percent by 2010. And while the country is pushing for more oil production, it’s also hoping to dramatically increase mining activity.

Algeria now produces about 1.4 million barrels per day, and Sonatrach, the national oil company, believes the country can add another 600,000 bpd by ramping up foreign investment in new fields. The major foreign oil companies in Algeria include Anadarko Petroleum Corp., BP, Shell, BHP Billiton, ENI, and Hess Corp. Houston-based Anadarko is the biggest foreign operator, with a total Algerian production of 530,000 bpd. Anadarko is now partnering with Sonatrach to develop the El Merk project, expected to add 150,000 bpd by 2010. BP plans to nearly quintuple production at Rhourde El Baguel, Algeria’s second-largest oil field with about 3 billion barrels of proven reserves. Although the field is huge and has been producing for more than four decades, it has only produced 450 million barrels. By 2010, BP expects to raise output from the current 27,000 bpd to 125,000 bpd.

http://www.energytribune.com/articles.cfm?aid=386