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Article: ALGERIA - Part 1 - Oil Output Keeps Rising.
- Article from:
- APS Review Oil Market Trends
- Article date:
- January 31, 2005
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For foreign investors in Algeria's petroleum sector, the situation keeps improving. Algeria's capacity to produce OPEC-quota oil has risen to 1.3m b/d and should reach 1.5m b/d this year, up from 1.2m b/d in early 2003. With the number of foreign E&P operators to rise from 20 to 80 in this decade, the capacity would reach more than 2m b/d by 2010. Foreign firms' share of oil production would exceed 50% of Algeria's output.
Algeria is under-explored, with its Sahara still being virgin territory. Less than ten wildcats have been drilled per 10,000 sq km in Algeria. In North America there are 500 wells per 10,000 sq km. According to the state concern Sonatrach, ...