Arab Today, arab today algeria to double gas production in 10 years
Last Updated : GMT 04:01:08
Arab Today, arab today
Arab Today, arab today

Helped by major exploration success in 2013

Algeria to double gas production in 10 years

Arab Today, arab today

Arab Today, arab today Algeria to double gas production in 10 years

Oil installation on the outskirts of In Amenas
Algiers - Arab Today

Oil installation on the outskirts of In Amenas Algeria plans to double natural gas  production and hike oil output by 50 percent within 10 years helped by major exploration success in 2013, Energy Minister Youcef Yousfi said Thursday. His comments come exactly one year after a bloody assault by armed Islamists at the In Amenas desert gas plant, one of the country’s main upstream facilities, and amid steady decline in Algerian gas production since it peaked in 2005.
“Algeria plans very seriously to double its gas production,” Yousfi told national radio, adding that shale gas would contribute to the ambitious production plan.
He put Algeria’s recoverable reserves at between 25 and 30 trillion cubic feet.
The minister described drilling results in 2013 as “extremely satisfying,” saying the OPEC country had discovered 550 million tonnes (4 billion barrels) of oil equivalent from 32 new oil and gas finds, three times the number discovered in 2012.
“We are going to see how much we can extract,” he said, but added that the new finds would also allow the country to raise oil production by 50 percent in the coming decade, from 1.2 million barrels per day now.
Algeria is the third largest supplier of natural gas to Europe, after Russia and Norway, although production at many of its older fields is in decline.
The country relies on foreign firms to maintain production levels at those fields.
But the In Amenas attack last year, in which 38 hostages were killed, has raised questions about the willingness of foreign companies to operate in the North African country.
Its oil and gas sector has also been hit by a number of corruption scandals linked to the state-run energy firm Sonatrach, and by lengthy delays in bringing new projects on stream.
Algeria’s total gas production has fallen from more than 88 billion cubic metres per year in 2005, according to British energy giant BP, to little morethan 80 million bcm/y in 2012, while domestic consumption continues to rise.
Source: AFP

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today algeria to double gas production in 10 years Arab Today, arab today algeria to double gas production in 10 years

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 09:55 2017 Monday ,20 February

Thailand 2016 growth up but below junta target

GMT 09:29 2017 Monday ,20 February

Kraft Heinz withdraws bid for Unilever

GMT 09:22 2017 Monday ,20 February

China's huge debt poses big headache for central bank

GMT 18:23 2017 Sunday ,19 February

Darwesh vows to provide job opportunities for youth

GMT 12:10 2017 Sunday ,19 February

Welcomes the F&B solution of the future

GMT 10:06 2017 Friday ,17 February

South Korea's Hanjin Shipping declared bankrupt

GMT 09:26 2017 Friday ,17 February

Samsung's history tainted by run-ins with the law
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday