APS : Thursday, 18 January 2018
ALGIERS- An agreement for the exploitation of Rhourde el Khrouf (RKF) oilfield in the basin of Berkine (Ouargla, 800-km southeast of Algiers) has been signed Thursday in Algiers between the national hydrocarbon company
SONATRACH, the National Agency for Hydrocarbon Resources Development (ALNAFT) and the Spanish group CEPSA.
The agreement was inked by the CEOs of SONATRACH, ALNAFT and CEPSA Group, namely Abdelmoumen Ould Kaddour, Arezki Hocini and Pedro Miro Roig.
The 25-year agreement (2018-2043) provides for significant redevelopment of the mature oilfield after 19 years of exploitation with the aim to increase crude oil production and produce liquefied petroleum gas (LPG) for the first time from this field, through new hydrocarbon recovery techniques.
The development plan of the field includes the drilling of 30 new wells, as well as the building of a new processing plant, a LPG recovery facility and LPG pipelines.
The project, worth US$1.2 billion, would have a major economic impact and would generate between 1,000 and 1,500 jobs during the peak construction period.
