Rosneft To Start Producing Oil In Algeria By 2011
الشروق أونلاين
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Russian oil major OAO Rosneft (ROSN.RS) will start working on two fields in Algeria this year with a view to extracting oil there by 2011, according to the Prime-Tass news agency.It cited Russian Industry and Energy Minister Viktor Khristenko as saying that Algeria ’s oil production would reach 3.5 million metric tons or more a year.
Earlier this month, Rosneft and engineering construction company Stroytransgaz confirmed commercial reserves at two oil fields and two gas fields in the southern part of Algeria .
Separately, Khristenko said gas monopoly OAO Gazprom (GAZP.RS) is in talks over a possible asset swap and joint gas production and transportation with Algeria’s oil and gas Company Sonatrach.
