Oil finally flows at BHP Billiton's ROD field in Algeria

Oct 27, 2004 02:00 AM

Oil has finally started flowing at BHP Billiton jointly owned ROD field in eastern Algeria. Originally scheduled for completion by the first quarter of 2004, the resources group and its partners put back the completion date for the project by more than six months after problems in securing some equipment.
But production at the facility began with a gross flowrate of some 18,000 bpd of oil currently being produced.

Oil from the ROD field will initially be processed at neighbouring plant.
With the completion of the ROD central processing plant expected later this year, production should rise to about 80,000 barrels of Saharan Blend crude oil a day. BHP Billiton has a 36 % share in the venture, and operates the project jointly with Algerian national oil company Sonatrach.

The ROD Integrated Development represents BHP Billiton's second development in Algeria. First gas from the company's jointly owned Ohanet gas and liquids stripping project started flowing in October last year.
"ROD and the Ohanet Development have given us a platform for growth," said BHP Billiton Group Energy President Philip Aiken. Supporting this, BHP Billiton has acquired further Algerian exploration acreage in recent auctions, Aiken said.

The ROD project consists of the development of six satellite oilfields in the Berkine Basin. A total of 34 development wells have also been drilled and will be available for production operations.
The capital cost of the project is forecast to be within the original budget, with BHP Billiton's share at $ 192 mm. BHP Billiton has funded 36 % of the capital project, with the balance being funded by Italy's ENI.

Source: Dow Jones
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