LONDON (Alliance News) - BP PLC Tuesday said its joint venture in Algeria has launched the Southern Fields project aimed at maintaining the current production rate from the site.
BP, alongside its partners Sonatrach and Statoil, are developing seven gas fields at the Salah Gas joint venture project to join the three fields that are currently producing. The initial launch will focus on developing only four of the seven fields.
Production at the project started back in 2004, and currently comes from the Krechba, Teguentour and Reg fields in the northern part of the area. The Southern Fields project involves the development of four dry gas fields, namely Gour Mahmoud, In Salah, Garet el Befinat and Hassi Moumene.
"Developing the Southern Fields will maintain planned production at 9.00 billion cubic metres per annum," said BP.
The drilling of 26 southern field wells began in 2014 and is planned to continue until 2018. The project's scope includes a new 500 million standard cubic feet per day gas dehydration central processing facility close to Hassi Moumene, brownfield modifications to existing processing facilities at Reg, Teg and Krechba, 150 kilometres of carbon steel export pipelines, 160 kilometres of 13% chrome corrosion resistant alloy infield flowlines and the drilling and tie in of the 26 new wells, said BP.
Production is planned to ramp up to 14.1 million cubic metres per day, which equates to around 500.0 million standard cubic feet per day, as wells in the Hassi Moumene and Garet el Befinat field are brought on line over the next two months.
BP shares were up 2.2% to 340.05 pence per share on Tuesday.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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