Oil giant British Petroleum (BP) has signed an agreement with Algeria’s state-owned oil and gas company Sonatrach to double the gas output from the In Amenas oil field. The $13 million dollar development scheme has a target date of completion set for 2005, reported APS.
The agreement increases the field’s daily output to 25.5 million cubic meters of dry gas and and 50,000 meters of liquefied gas, reported APS. Algeria has proven natural gas reserves of 160 trillion cubic feet (tcf), third largest in the world, and estimates that reserves exceed 204 tcf.
BP recently planted its flag in Algeria as part of its global expansion into the production and distribution of natural gas. Its two gas developments in the North African state are located in In Salah and In Amenas. The company also has an oil site in Rhourde El Baguel.— (menareport.com)
© 2002 Mena Report (www.menareport.com)
