Algeria saw its crude production increase over the past couple of months at two of its major fields, the Hassi Messaoud and the Ourhoud.
Production at Hassi Messaoud is currently sitting at 470,000 bpd, upfrom its previous flows of 420,000 bpd. Output at Ourhoud oil field rose 25,000 bpd to 125,000 bpd.
The North African country’s Minister of Mines and Energy, Nouredine Bouterfa, told reporters that Algeria’s goal was to increase production by 30% by 2020. He also revealed that Algeria has decided not to wait for a tender for exploration licenses, but would deal directly with international firms present in the country.
“We can’t wait two years because we need to boost our output,” Bouterfa said.
Sonatrach, the state-run oil firm, has focused on maximizing output at its mature fields. It is also looking to engage plans to drill 32 to 50 wells at Hassi Messaoud beginning this year.
Source: Petroleum Africa