Monday 20 January 2014

Algeria wants to double its gas output

Algeria is reportedly planning to double its production of gas within a decade.

The country produces 1.2 million barrels per day now.

Energy Minister Youcef Yousfi told a state radio station last week a new bidding round for oil and gas licences will open in the “coming weeks”, reported Reuters.

He said the OPEC nation found 550 million tonnes or 4 billion barrels of oil equivalent from 32 new oil and gas finds in 2013.

The comments come a year after 40 workers were killed in a “savage” attack at the In Amenas gas plant owned by BP, Statoil and Sonatrach.

The country’s parliament brought in a new energy law cutting taxes on foreign energy companies working in Algeria last January.