Algeria NOC Enlists WorleyParsons' Help to Boost Output
By way of its “SH2030” plan, Algeria’s Sonatrach aspires to become the world’s fifth-largest national oil company (NOC) by the year 2030.
Sonatrach has enlisted WorleyParsons Ltd.’s expertise to help it reach that goal.
The Algerian NOC has awarded WorleyParsons a five-year framework agreement to provide project management services toward developing its oil and gas production capacity across various projects, Australia-based WorleyParsons reported Friday.
According to Sonatrach website, some of the NOC’s desired outcomes from SH2030 include:
- Double the NOC’s annual volume of discoveries from 50 to 100 million tons of oil equivalent per year
- Increase per-rig productivity to six wells per year in development and four wells per year in exploration
- Produce 20 billion cubic meters of unconventional resources in 2030 and increasing that volume to 70 billion cubic meters by 2040
- Deploy improved/enhanced oil recovery (IOR/EOR) technologies in the companies existing fields to increase production by 2 million tonnes of oil equivalent by 2040
- Explore offshore prospects encompassing an area of approximately 100,000 square kilometers
- Boost natural gas marketed in new trading markets by 50 percent
- Invest in “value-creating” refining projects
- Form a national petrochemical industry
- Elevate the company’s international presence
“We look forward to working with Sonatrach in support of its SH2030 strategy,” WorleyParsons CEO Andrew Wood said in a written statement.
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