Petroleum Africa
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Tuesday, October 14, 2014
Algeria has seen its natural gas production grow for the first time in just under two years. The country’s gas production took a hit in January 2013 when Islamist gunmen took the BP/Statoil In Amenas gas plant and its workers hostage. The militants killed 40 of the plants workers during the siege.
Following the incident not only did Algeria’s production take a dive but so did investor confidence in the government’s ability to keep oil and gas facilities secure.
The recent growth in production is just the start, according to the country’s oil minister Youcef Yousfi who said Algeria’s gas production would increase by 40% within five years “and will double within a decade”.
“We are working on broadening our mineral reserve base with intensive exploration in all regions of the country,” Yousfi told attendees at an industry even in Oran, Algeria.
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