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ALGIERS, Nov 15 (Reuters) - Algeria's Sonatrach achieved record high crude oil exports in October of 2.77 million tonnes of oil equivalent, a senior official at the state-run energy company told Reuters.
The North African OPEC member has been investing in new technology to increase yields at its more mature fields following several years of stagnating production because of weak foreign oil investor interest.
"In the past few years, we used to export 1.9 to 2 million tonnes of crude oil per month," the Sonatrach source, who asked not to be identified, told Reuters.
Additional exports were delivered to new clients in Cuba, and Australia, the source said.
Sonatrach's oil output in 2016 has increased by 8 percent.
Its total output of crude and oil products is set to reach 69 million tonnes of oil equivalent in 2016, up from 67 million in 2015.
Natural gas production is expected to rise to 132.2 billion cubic metres (bcm) from 128.3 bcm.
(Reporting by Lamine Chikhi; editing by Patrick Markey and Jason Neely) ((pat.markey@thomsonreuters.com; +213-661-692993; Reuters Messaging: pat.markey.thomsonreuters.com@reuters.net))
The North African OPEC member has been investing in new technology to increase yields at its more mature fields following several years of stagnating production because of weak foreign oil investor interest.
"In the past few years, we used to export 1.9 to 2 million tonnes of crude oil per month," the Sonatrach source, who asked not to be identified, told Reuters.
Additional exports were delivered to new clients in Cuba, and Australia, the source said.
Sonatrach's oil output in 2016 has increased by 8 percent.
Its total output of crude and oil products is set to reach 69 million tonnes of oil equivalent in 2016, up from 67 million in 2015.
Natural gas production is expected to rise to 132.2 billion cubic metres (bcm) from 128.3 bcm.
(Reporting by Lamine Chikhi; editing by Patrick Markey and Jason Neely) ((pat.markey@thomsonreuters.com; +213-661-692993; Reuters Messaging: pat.markey.thomsonreuters.com@reuters.net))
