Algeria has increased its oil output at the Hassi Messaoud and Ourhoud oil fields over the last few months in an effort to compensate for lost revenue, Reuters reported.
A representative from the state-run firm Sonatrach said on the sidelines of a conference, that the output at the Hassi Messaoud field has risen from 420,000 to 470,000 barrels. At the Ourhoud field, output has increased from 100,000 to 125,000 barrels.
The company, associated with Anadarko, Pertamina and Cepsa operates the Ourhoud field. A senior manager for the company said that Sonatrach plans to dig between 32 and 50 wells at the Hassi Messaoud field this year compared to eight wells in 2013 and 2014.
Sonatrach is working to raise its hydrocarbon output following the crash in oil prices. The company is also seeking foreign investors and partners in technology.
According to Algerian Energy Minister, Nouredine Bouterfa, the country’s first priority is to boost energy production 30% by the year 2020. Bouterfa also said that Algeria would not wait out a two-year tender, but that it has opted for working directly with international partners already doing business there, Trade Arabia wrote.