Neptune Energy’s 4.5bcm/y (435mn cfd)-capacity Touat gas project in Algeria is finally “producing close to plateau rates” following months of technical issues since its September start-up (MEES, 29 November 2019), according to the firm’s results on 31 March.
Neptune’s 35% operator’s stake in Touat netted it 4,800 boe/d (27mn cfd) in Q4 implying gross Q4 output of just 77mn cfd. France’s Engie has 30% and Sonatrach 35%. Algeria (ie Touat) together with 4,500 boe/d (two-thirds gas) of Egypt output, accounted for just 4% of the UK-based firm’s 143,000 boe/d net 2019 production, but Touat’s ramp up is set to quadruple this share for 2020. (CONTINUED - 179 WORDS)