Petroleum Africa
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Monday, February 8, 2016
Algeria saw its revenue from the oil and gas sector drop by around 41% in 2015 as the continued drop in global crude prices took its toll on the country’s main income generator. The country’s revenues are expected to continue their downward spiral in 2016.
Sonatrach has been exploring options to make up for the drop in crude prices, such as increasing natural gas output and maximize production from existing wells.
“Around 50% of Algeria’s production comes from Hassi Messaoud and Hassi R’Mel,” Mohamed Beghoul, an independent oil and gas consultant in Algeria, told Natural Gas Daily. “These facilities have reached a very advanced state, which limits production.”
The state-run firm may want to increase its gas production, but the increase may not be enough as it is also facing pressure from its export partners to change the terms of its long-term gas export agreements.
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