Crude oil: EIA estimates Algeria's proved reserves at 12 billion barrels

APS : Tuesday, 26 March 2019
WASHIGNTON- Algeria’s crude oil proved reserves amounted, at the beginning of 2018, to about 12.2 billion barrels, located entirely within onshore areas, according to U.S. Energy Information Agency estimates,
published Monday in Washington.
Algeria held an estimated 12.2 billion barrels of proved crude oil reserves at the beginning of 2018, announced the same source
The US Agency said that all reserves are located within onshore areas because offshore exploitation has been limited, which suggests that the country’s crude oil proved reserves are more important than the above-mentioned estimates
The EIA argues that Algeria “has significant shale oil and natural gas resources, noting that “little progress was made to develop” this potential
The country is able to increase the production of the operating oilfields namely those of Illizi, Berkine or Hassi Messaou Dhaa, which held 71% of crude oil proved reserves, estimates the Agency.
Algeria also has to improve recovery in mature fields with a view to protect crude oil extraction, “Without additional upstream investment, the rate of decline is expected to increase, resulting in lower production,” added the same source.

Let's talk

If you want to get a free consultation without any obligations, fill in the form below and we'll get in touch with you.