At a press conference in September 2013, Algeria’s minister of energy and mines, Youcef Yousfi, announced that hydrocarbons giant Sonatrach had made some “very important” and “extremely promising” gas finds and that the country’s natural gas reserves were “not falling, but rising”.
In terms of performance and, particularly, potential, Algeria is a major player in hydrocarbons. According to BP’s “Statistical Review of World Energy 2013” (SRWE), it ranked 15th among the world’s oil producers in 2012, with output of almost 1.7m barrels per day (bpd), 1.8% of the global total. Its performance in natural gas ranked it ninth, with...
Nigeria has a well-established track record as the world’s 12th-largest producer of oil and the leading producer in Africa, according to the BP “Statistical Review of World Energy 2013”. Yet as the country’s proven reserves of both oil and gas start to decline, the imperative is to clarify the industry’s long-term legal and fiscal outlooks to...
Following over a decade’s debate on 17 drafts of the long-awaited Petroleum Industry Bill (PIB), authorities hope to enact the reform by year-end 2013. With debate shifting from the federal executive branch to parliament, and the 2015 elections fast approaching, time is of the essence. Despite opposition from international oil companies (IOCs) due...
Nigeria’s reserves are often characterised as a drop of oil in an ocean of natural gas. With total proven natural gas reserves ranging between 182trn standard cu ft (scf), according to BP’s “Statistical Review of World Energy 2013”, and 187trn scf, according to the Nigerian National Petroleum Corporation (NNPC) – making it the world’s ninth largest...
As Nigeria’s upstream mix shifts increasingly offshore, developing onshore assembly and fabrication capacity will be crucial for the floating, production, storage and offloading (FPSO) facilities key to extracting this oil. The local content of FPSOs in Nigeria has gradually increased with FPSOs such as Bonga, Agbami and Usan, yet the Total-operated...
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