Algeria expects to increase its share on international oil market

Dec 02, 2002 01:00 AM

According to the Algerian Minister of Energy and Mining, petroleum production could reach a level of 2 mm bpd during the next 10 years. The minister stated: "Algeria should maintain and even increase its share on the international market, which is currently 1.2 % for all hydrocarbons."
The possibilities exist, according to the minister, who cited as trump cards the nearness of the European market and the large growth in demand for gas as well as the good position vis-a-vis the Atlantic market. If the current goal is to produce 1.5 mm bpd, it is probable that production will reach 2 mm bpd in the next 10 years, that still according to Mr Chakib Khelil.

The goal of bringing gas exports up to 85 bn cm (+40 %) will probably be achieved between now and 2006-2007. The minister announced the future launch of a first call for bids for off-shore blocs.
Regarding the national company, he stated: "We have never contemplated the privatisation, even the partial privatisation, of the National Company for the Transport and Marketing of Hydrocarbons."

Regarding the plan to reform the sector and in particular the draft hydrocarbons bill, the minister explained that the law was with the general government secretariat. It will next move to the Government Council before going to the National Assembly and the Senate. In Parliament, it has been scheduled for the fall session, the minister indicated.

Source: Neftegaz.RU
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