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A picture taken on September 24, 2020 shows the Brega oil port some 270kms west of Libya's eastern city of Benghazi. - Libya’s state oil firm lifted force majeure on what it deemed secure oil ports and facilities on September 20, a day after strongman Khalifa Haftar said he was lifting a blockade on oilfields and ports. The blockade, which has resulted in more than $9.8 billion in lost revenue according to the state-run National Oil Corporation (NOC), has exacerbated electricity and fuel shortages in the country. (Photo by - / AFP)
OPEC member Algeria has launched a massive seismic survey covering almost 500,000-square kilometre within plans to develop Hassi Messaoud oilfield.
The state-owned Sonatrach, one of the world’s largest oil firms, is conducting the high-resolution, high intensity survey at the field and surrounding areas in East Algeria, the Algerian Arabic language daily Elkhabar said on Wednesday.
The paper quoted Sonatrach’s Director General Tawfiq Hakkar, who visited the field on Tuesday, as saying the operation is designed to “maximise the field’s production and crude oil reserves” and to maintain Sonatrach’s position as an important player in the global energy markets.
Sonatrach said in a statement that the survey covers nearly 2,000 oil wells in the field besides huge areas housing industrial and housing facilities.
It said this project constitutes “a challenge to Sonatrach to complete the survey using the latest modern technologies that ensure accurate knowledge of all these data.”
Discovered in 1956, Hassi Messaoud oilfield produces around 350,000 barrels per day and contains nearly 6.5 billion of recoverable oil deposits, according to Algerian estimates.
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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