PTTEP Begins the Development of “Algeria Hassi Bir Rekaiz,” Expecting 13KBPD in 2021
PTTEP has announced that the company has started the development of Phase 1 of Algeria Hassi Bir Rekaiz Project which will be able to produce 10,000-13,000 BPD in 2021.
PTT Exploration and Production Public Company Limited (PTTEP) has announced that the company as the operator, together with SONATRACH (Algeria’s National Oil and Gas Company) and CNOOC Limited, has started the development on Phase 1 of Algeria Hassi Bir Rekaiz Project following the conclusion with partners and its approved development plan by ALNAFT (Agence Nationale pour la Valorisation des Ressources en Hydrocarbures – Regulating body of Hydrocarbon Exploration & Production).
The development activities are expected to commence in March 2019. First oil production for the initial phase of 10,000-13,000 barrels per day (BPD) is expected in early 2021 with a plan for the second phase production capacity ramping up to around 50,000-60,000 BPD in 2025.
Algeria Hassi Bir Rekaiz Project is located onshore, in the eastern part of the People’s Democratic Republic of Algeria, covering an area of 1,916 square kilometers. PTTEP holds 24.5% participation interest. The other joint venture partners consist of SONATRACH and CNOOC Limited with participation interest of 51% and 24.5%, respectively.
The start of Algeria Hassi Bir Rekaiz’s development marks another important milestone to support PTTEP’s growth by accelerating pre-development projects in order to add near term production volumes and petroleum reserves.
