BP: Mixed Signals On Algeria

BP, in its 2014 Annual Report, released this week, lists Algeria’s In Salah south project as one of the firm’s four key projects worldwide to start-up this year. Though nominally slated to maintain In Salah output at 9 bcm/year (870mn cfd), BP has also said that tying in the additional Hassi Moumène, Garet El-Befinat, In Salah and Gour Mahmoud gas fields will initially boost output by 500mn cfd. In fact, production data seen by MEES show that output for 2014 fell to 6.6 bcm (640mn cfd), the lowest annual level since the project started up in late 2007 (see graph). BP has a 33.15% stake, Statoil 31.85% and Sonatrach 35%. (CONTINUED - 382 WORDS)