Petroleum Africa
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Wednesday, November 2, 2016
Sonatrach revealed that its oil and gas exports hit 89 million tons in the first 10 months of 2016, up by 9% over its export totals for the same period in 2015, according to the Algerian state-run oil and gas firm’s Chief Executive Amin Mazouzi in a press statement.
Sonatrach’s oil production increased by 80,000 bpd in Q3, Mazouzi said, adding that the rise is part of Sonatrach’s program to enhance production capabilities, and diversify international target markets.
In addition, the increase allowed exports to Latin American markets like Cuba and Brazil. The company delivered energy products to Australia and Asian markets, including two deals with Indian firms.
Over the first nine months of the year, Sonatrach made 28 new explorations, 25 of them added 177.47 million tons of potential proven reserves.
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