Economics Affairs

Sonatrach: Hydrocarbon production up in Jan-Feb 2017

APS - 19 March 2017

ALGIERS- Hydrocarbon primary production hit 32.6 million tonne oil equivalent (TOE) over the first two months of 2017, i.e. up by 4 percent compared with the same period in 2016, said the national hydrocarbon company SONATRACH in its latest report.

An additional oil production capacity of 110,000 barrels a day is currently available, but it has not been produced in accordance with the OPEC accord, said the source.

An additional volume of 4 billion cubic metres of gas per year is also available and ready to be exported as soon as the GR6 pipeline project is completed (by May 2017).

Hydrocarbon exports amounted to 17.9 million TOEs between January and February 2017, up by 7 percent compared with the same period a year earlier.

Natural gas output hit 22.4 billion m3, up by 6 percent compared with late February 2016, while crude oil production reached 8.13 million tonnes, up by 3 percent compared with late February 2016, added the source.