Petroleum Africa
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Thursday, April 28, 2022
The Sonatrach Group is ranked at the top of the ranking in the Arab region in terms of oil exploration, carrying out three new explorations in the first quarter of 2022, and occupies the first place in the annual ranking of the “500 best African companies,” according to a recent press release.
“Algeria topped the oil and gas exploration investment indices at the Arab level during the first quarter of 2022,” a statement from the Organization of Arab Petroleum Exporting Countries said following the three recent oil discoveries by the Sonatrach Group.
The first discovery took place in the Berkine basin at Zemlet El Arbi, with initial estimates of around 140 million barrels, while the second discovery was made with “west of Oglet Naceur 2”, at Touggourt, which allowed volumes to be reassessed to 961 million barrels, with a contribution from the demarcation well “west of Oglet Naceur 2” with a capacity of 415 barrels.
The third discovery took place in the region of El Ouabed in the wilaya of El Bayadh through the “Ouled Sidi Chikh 1” well, producing some 925 barrels of oil per day and 6,456 cubic meters of gas per day.
Sonatrach has been able to maintain its level of performance and overcome the repercussions of the health crisis on the international economy, achieving a turnover of $34.5 billion in 2021, the release mentioned.
The Sonatrach Group recorded an increase in production of 5%, as well as an increase in its exports of around 18% during 2021.
Source: Sonatrach & APS
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