DUBLIN--(BUSINESS WIRE)--Dublin - Research and Markets (http://www.researchandmarkets.com/research/76b63dd5/algeria_oil_and_ga) has announced the addition of the "Algeria Oil and Gas Report Q1 2012" report to their offering.
Crude and gas output is expected to rise over the course of their forecast period, although oil production is likely to be hampered by OPEC quotas. Despite a large potential for exploration, BMI believe that unless new basins (or significant fields in already-known basins) are discovered, reserves could very well peak this decade.
Main Trends and Developments BMI Highlight for Algeria's Oil and Gas Sector Are as Follows:
- BMI expects oil production to increase from approximately 2,083,000b/d in 2011 to 2,654,000 in 2021, as ambitious new projects - mostly located in the Berkine basin - come onstream. Production will be further boosted by increase in output at major fields, such as Hassi Messaoud, and by enhanced recovery rates.
- Consumption of crude is likely to rise steadily, with an annual average growth rate of 3.3% forecast during the period 2011-2021. This is partly in line with the expected GDP growth rate, although BMI expect energy intensity to increase towards the end of the forecast period. We therefore anticipate that consumption will rise from an estimated 327,000 b/d in 2011, to hit 454,000 b/d by 2021.
- BMI forecasts that gas production will increase from 85.0 bcm in 2011 to 142.4 bcm by 2021, as ambitious new projects - mostly located in the Ahnet and Illizi basins - come onstream. Production will be further boosted by increase in output at major fields such as Hassi R'mel and by enhanced recovery rates, as is expected in the In Salah Gas Project. - Gas demand is set to rise steadily on the back of stolid economic growth. BMI forecasts average growth of 5.4% from 2011 to 2015. We therefore anticipate that consumption will rise from an estimated 32.0 bcm in 2011, to hit 54.1 bcm by 2021.
Companies Mentioned:
- Enterprise Nationale Sonatrach
- Anadarko Algeria
- Eni Algeria Production
- BP Algeria
- Total
- Repsol Argelia
- BHP Petroleum (Algerie)
- CEPSA
For more information visit http://www.researchandmarkets.com/research/76b63dd5/algeria_oil_and_ga