Companies

Algeria: Sonatrach makes 28 finds in first nine months of 2016

Monday, 31 October 2016 16:59

(Ecofin Agency) - In Algeria, State-owned oil Company, Sonatrach has announced that it made a total of 28 hydrocarbon discoveries from the beginning of this year to September 30, 2016 mostly from the Hassi Messaoud and Berkine.

Sonatrach, as part of its exploration activities, has announced it made twenty-eight hydrocarbon finds until Sep. 30,” the group said in a statement adding that all the finds, three of which are still under assessment were achieved in its efforts.

Situated in the center of Algeria, the Hassi Messaoud oil field, which was discovered in 1956, is the most ancient and largest oil field in the country. It was developed and is currently operated by Sonatrach while the Hassi Berkine Oil field is located in Algeria's Sahara Desert and operated by Anadarko.

The overall volume of hydrocarbons discovered through the 25 finds is estimated at 177.47 million tonnes of oil equivalent proven and probable (2P), and 401.37 million tonnes of oil equivalent proven, probable and possible (3P), Algeria Press Service reports.

The OPEC member has been affected by the crash in world oil prices and has fought to attract energy investments to help develop new fields and boost existing production.

The Algerian government has said it is looking to develop its current fields such as the Hassi R’mel, Hassi Messaoud, Berkine and El Merk to boost oil and gas production.

Anita Fatunji

 
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