Algeria on target for 1.5 million b/d by 2005

08 May 2003
Algeria is on track to increase oil output to 1.5 million barrels a day (b/d) by 2005 with the aid of production increases from the Ourhoud field, Algerian Energy & Mines Minister Chakib Khelil said on 6 May. The following day, Spain's Cepsa, one of Ourhoud's operators, announced that output had reached its target of 230,000 b/d ahead of its June target, following total investment of $1,700 million.

Algerian output averaged 1.1 million b/d in March compared with a quota of 811 b/d. 'Last year we made six discoveries, of which four were by Sonatrach alone,' said Khelil. 'In 2003, I hope we will do better in terms of the discovery of fields.' He said that in 2003 Algeria was offering 12 new blocs for exploration. Khelil also suggested that output from the Hassi Messaoud field, Algeria's largest, could be raised above its current 300,000 b/d. 'Hassi Messaoud has not said its last word,' he said. 'Hassi Mesaoud is a giant and will remain a giant for a long time to come.'

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