Algeria’s national assembly this week debated amendments to the country’s hydrocarbon law. These aim to increase foreign interest in the sector and ultimately boost production. A final vote is expected on 21 January.
Algeria’s hydrocarbon output fell 3% to 200mn tons of oil equivalent (toe) for 2012, according to preliminary figures given by Sonatrach CEO ‘Abd al-Hamid Zerguine to state news agency APS. This compares to targets of 210mn toe for 2012 and 234mn toe for 2016 (MEES, 20 February 2012). (‘Commercial’ production excluding reinjected and flared gas is typically around 30% lower than these gross figures – equating to around 2.95mn b/d of oil equivalent for 2012, of which crude production is around 1.2mn b/d, gas around 80bcm [1.3mn boe/d] and condensate/NGLs 450,000 b/d). (CONTINUED - 1049 WORDS)