• 5 hours UK On Track To Approve Construction of “Mini” Nuclear Reactors
  • 9 hours LNG Glut To Continue Into 2020s, IEA Says
  • 11 hours Oil Nears $52 With Record OPEC Deal Compliance
  • 14 hours Saudi Aramco CEO Affirms IPO On Track For H2 2018
  • 16 hours Canadia Ltd. Returns To Sudan For First Time Since Oil Price Crash
  • 17 hours Syrian Rebel Group Takes Over Oil Field From IS
  • 3 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 3 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 3 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 3 days Schlumberger Warns Of Moderating Investment In North America
  • 3 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 3 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 4 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 4 days New Video Game Targets Oil Infrastructure
  • 4 days Shell Restarts Bonny Light Exports
  • 4 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 4 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 4 days British Utility Companies Brace For Major Reforms
  • 4 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 4 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 4 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 5 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 5 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 5 days Rosneft Signs $400M Deal With Kurdistan
  • 5 days Kinder Morgan Warns About Trans Mountain Delays
  • 5 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 5 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 5 days Russia, Saudis Team Up To Boost Fracking Tech
  • 6 days Conflicting News Spurs Doubt On Aramco IPO
  • 6 days Exxon Starts Production At New Refinery In Texas
  • 6 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 6 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 6 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 7 days China To Take 5% Of Rosneft’s Output In New Deal
  • 7 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 7 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 7 days VW Fails To Secure Critical Commodity For EVs
  • 7 days Enbridge Pipeline Expansion Finally Approved
  • 7 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 7 days OPEC Oil Deal Compliance Falls To 86%
Alt Text

Draw In Crude Inventories Lifts Oil Prices

Oil prices reversed course on…

Alt Text

Big Oil Refuses To Give Up On The Barents Sea

Despite failures in the Barents…

Alt Text

Can Trump Drive A Wedge Between Saudi-Russian Alliance?

Trump’s Iran deal decertification threatens…

Anadarko Begins Production in Algeria’s Field of Dreams

Anadarko Begins Production in Algeria’s Field of Dreams

US oil company Anadarko Petroleum Corp. has officially launched production in Algeria’s Illizi Province, with plans to produce 146,000 barrels per day in partnership with Algerian state-run Sonatrach.

Production at the southeastern el-Merk field, in Illizi Province, began on Sunday, 26 October.

The field is estimated to hold roughly 1.2 billion barrels of oil and is located in what is being described as the heart of Algeria’s oil development plans.

Sonatrach, Algeria’s state-owned oil company, holds a 51% stake in the project, which will run up an exploration bill of about $4 billion for an estimated 80 wells.

Related article: North African Downfall Spells Success for Morocco

A 49% share of production will go to Anadarko and its partners, Eni, Maersk, Conoco Philips and Talisman.

The project plans to produce 12,000 barrels a day by May 2014, ramping up to 130,000 per day, the peak, by the end of next year.  

Algeria is a member of the Organization of Petroleum Exporting Countries. OPEC said the country has proven crude oil reserves of 12.2 billion barrels.

Production here is being launched as security in Algeria is increasingly threatened by the chaos in neighboring Libya. The situation in Libya and the threat to Algeria’s borders have increased since the attack on the BP-Statoil Amenas gas facility in Algeria in January.

Last week, Algerian security forces discovered a massive weapons cache, including hundreds of anti-aircraft missiles, near the border with Libya, in the area of Illizi. There are concerns that production at Illizi could become a target for militant attacks.

Related article: Marathon Rethinks Libya Exit

Algeria is dealing with the threat of militant infiltration along its borders with both Libya and Tunisia. As of 21 October, the Algerian army is on full alert and an additional 12,000 troops have been mobilized and deployed on the country’s eastern border with Tunisia.

On the legislative front, the investment atmosphere has improved since the adoption in January of a new national hydrocarbon law revamping the production tax system, state ownership and exploration incentives.

By. Joao Peixe of Oilprice.com




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News