Algeria boosts oil output by 32,000 bpd with two new fields
Algeria produced an average 1.1 million bpd in July, according to a Reuters survey
OPEC member Algeria has increased crude oil output by 32,000 barrels per day (bpd) after starting production at two fields, an energy ministy official said on Sunday.
Production increased on Saturday when the Bir Sebaa field started producing 20,000 bpd in addition to 12,000 bpd from the Bir Msana field in Hassi Messaoud area, the official told Reuters.
Algeria produced an average 1.1 million bpd in July, according to a Reuters survey.
Algeria, a key supplier of Europe’s gas needs, expects to boost projects at its large gas field Hassi R’mel, bringing output to 75-76 billion cubic meters (bcm) a year for the next ten years, including 40 bcm for export.
BP, Total and Italy’s Eni already operate in Algeria, but some foreign oil operators are wary of Algeria's contract terms and what they see as cumbersome state bureaucracy compared with other oil producers in the region.