Qatar, Algeria among new oil and gas discoveries by OAPEC in the region

Posted on 6th June 2014

Zemanta Related Posts ThumbnailThe Organizations of Arab Petroleum Exporting Countries (OAPEC) has recently unveiled a huge number of prominent hydocarbon discoveries made in the region over last year. These include 34 new oil wells and 10 new natural gas discoveries. Algeria with is Hassi Messaaoud region spouting a new well estimated at 1.3 million barrels and the Al-Shimal field in Qatar with a new gas discovery of 71 billion cubic metres of natural gas are among the prominent discoveries announced by the Organization.

OAPEC has also flagged off a number of key projects in the region including the Karan offshore project in Saudi Arabia with a estimated production capacity of 4.2 million cubic metres of gas per day, along with the Manifa refinery heavy crude oil project also in Saudi Arabia expect to add another half a million barrels per day. Manifa is expected to reach a production capacity of 900,000 barrels of oil and 65,00 barrels of condensate apart from 2.55 million cubic metres of gas it is expected to produce.

These new discoveries by OAPEC are likely to reinforce the findings of the US geological survey and other international geological and survey agencies on the vast potential for fresh discoveries in the hydrocarbon sector in the region.

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