Friday, July 11, 2014





Algeria announces major oil discovery


October 26. 2013 4:36PM
Associated Press

Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) Algeria's energy minister says a new oil field containing an estimated 1.3 billion barrels has been discovered.


Youcef Yousfi told the state news agency Saturday that the discovery near the large oil fields in the southern region of Hassi Messaoud is one of the most important in the last 20 years.


He added the state oil company, Sonatrach, will rely on unconventional techniques to extract 50 percent of the reserves, including hydraulic fracturing, also known as fracking.


The field will be exploited in the next three to four years following the necessary studies, the report added.


Algeria, an energy giant in Africa that already is one of the largest natural gas suppliers to Europe, had been concerned about declining oil reserves.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds