Algeria, April 1, 2019

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Algeria Held An Estimated 12.2 Billion Barrels Of Proved Crude Oil Reserves

U.S. Energy Information Administration (EIA), shows in its estimates that were published in Washington that Algeria held an estimated 12.2 billion barrels of proved crude oil reserves at the beginning of 2018 and that are held onshore.

EIA said in an analysis allocated to the energy sector in Algeria that “Algeria held 12.2 billion barrels by the beginning of 2018”, confirming that all these reserves are held onshore, as Algeria has not yet launched offshore exploration, suggesting that the country’s oil reserves are much higher than these estimates.

“Algeria has significant resources of shale gas and natural gas,” the US Energy Information Agency said, adding that “some progress has been made in valuing these possibilities.” The agency also confirmed in its report that the country can also raise the production of exploited fields,

“Algeria has significant resources of shale gas and liquified natural gas”, the US Energy Information Agency said, adding that “some progress has been made in valuing these resources.”

EIA confirmed in its report that the country can also raise the production of exploited fields, especially in Illizi, Berkine and Hassi Messaoud, which holds 71% of the proved crude oil reserves of the country, asserting that Algeria is also called to improve recovery at the level of mature fields to protect the levels of extraction of crude, adding that without “additional investment in the pre-production, there will a decline in production”.

It highlights that quality of oil that is produced in Algeria is the light crude oil of high quality, as it does not contain high sulfur rates. As for natural gas, the American Agency confirmed that the exploration of large resources of shale gas “faces many obstacles because of the fields are located in isolated areas and the lack of facilities such as roads and transport pipes in addition to the scarcity of water”.

“Algeria has the third largest reserves of shale gas in the world after China and Argentina, that are approximately 707 trillion cubic feet”.

In parallel, Sonatrach has to face the decline in its largest gas field in Hassi Remel which holds more than 85 trillion cubic feet, more than half the proved natural gas reserves.

EIA considers that the gas projects that were initiated by Sonatrach in the south-west are very important for the country, as it will retain its capabilities in terms of exploitation and responding to domestic demand.

“In the medium term, gas projects in the south-west, which have not yet exploited enough, are helping to assess gas production once it enters the production stage”.

The Northern Reggane and Timmimoune fields, which are consisting of the first phase of the project, entered the production stage. As one of the largest producers of gas and petroleum in Africa.

Algeria relies heavily on revenues from the export of hydrocarbons, according to the analysis. The country also depends on its production of fuel in response to energy needs.

Algeria’s oil and natural gas prices are among the lowest in Africa because of subsidies by the government.

echoroukonline



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