BP and Statoil Agree to Up Production

Thursday, December 28, 2017

Algeria’s state-run firm Sonatrach signed an agreement with BP and Statoil to produce an additional 11 Bcm of natural gas from the Tiguentourine gas field. The field is part of the In Amenas gas project along with the Hassi Farida, Hassi Ouan Taredert and Hassi Ouan Abecheu gas fields.

The field produces 9 Bcm per year, but more investment is needed to maintain that output beyond 2035.

“Sonatrach, British Petroleum, and Statoil have signed a deal to invest $500 million to recover an 11 billion cubic metre (bcm) additional reserve,” Sonatrach CEO AbdelmoumeneOuldKaddour told reporters during a signing ceremony.

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