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Two years ago Total’s Algeria production was low and falling. The company’s only stake was 35% of the aging Tin Fouye Tabankort (TFT) wet gas field where output has fallen from a peak of 680mn cfd in 2011 to just 400mn cfd for 2017 – netting Total a measly 15,000 boe/d, three-quarters gas ( MEES, 23 March 2018 ).
But from that trough, the company’s Algeria output was already set to rise. Development was well advanced at the 1.8bcm/y (175mn cfd) Timimoun gas field (Total 37.75% and operator), which finally came online early last year ( MEES, 2 March 2018 ).
And Total had already taken a key decision that was to see its net Algeria output more than triple to 47,000 boe/d for 2018 – the $7.5bn purchase of the upstream assets of Denmark’s Maersk, in a deal struck in August 2017 ( MEES, 25 August 2017 ) but which became effective on 8 March 2018. The move also shifted the focus of Total’s Algerian portfolio from gas to oil. (CONTINUED - 979 WORDS)
DATA INSIDE THIS ARTICLE
|chart||Total Algeria Liquids Output To Hit 100,000 B/D On Anadarko Deal Completion (‘000 B/D, Net)|