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Algeria Press Service

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23/04/2017 16:48

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You are here:HOME»ECONOMY»Algeria’s hydrocarbon potential, valued by finds, exceeds quantities extracted
Monday, 24 February 2014 12:01

Algeria’s hydrocarbon potential, valued by finds, exceeds quantities extracted

ALGIERS- Minister of Energy and Mines, Youcef Yousfi, declared Monday that the volume of initial reserves in the long operated deposits decreased in comparison with the extracted quantities, but the hydrocarbon potential valued by discoveries, represents cumulative volumes exceeding those produced during the same period.

"In Parallel to the prospection, most findings are followed by a number of works, notably the so-called delineation drilling. The processing and analysis of data generated by these works help to re-evaluate the already-made findings already and it often leads to different outcomes from those reached at the discovery," Yousfi added in an interview with the APS on the occasion of the 43rd anniversary of the nationalization of hydrocarbons.

  According to him, the volumes obtained after re-evaluation are more important in some cases than originally announced.

  About the start of hydrocarbons offshore production in Algeria, Yousfi said that prospecting and research are already underway on the Algerian coast and are expected to intensify in the coming years.

"Once the ongoing studies and works completed, they will determine the hydrocarbons potential in place and generate leads and prospects," said the Minister of Energy.

         He said that additional drilling and seismic woks would be launched in order to make discoveries and "delineation which will follow will help determine the extent of possible reserves of each deposit highlighted," he explained.

         Offshore production must go through all the steps, plus the completion of development plans, Yousfi said, stressing that "all the opportunities offered by offshore field will be used for the full exploitation of its deposits."

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