Anadarko Eyes Algeria Extension

US independent Anadarko is the largest foreign oil producer in Algeria. It’s fields in the Berkine Basin – El Merk and HBNS which it operates, and Ourhoud operated by Cepsa – produced a collective 317,000 b/d in Q3. Though volumes have been in steady decline, the firm considers its Algerian position as highly lucrative in terms of free cash flow – Algeria provided Anadarko with net oil output of 66,000 b/d for Q3, 17% of the company total, whilst spending was a mere $7mn (0.5% of the total), “minimal capital investment to optimize resource development and maintain the oil plateau,” in Anadarko’s words. (CONTINUED - 266 WORDS)