The domestic production of crude oil dropped by 16% at the end of February 2023 compared to the end of February 2022, standing at 242 kilotonnes (kt), according to the Energy Outlook for February 2023, released Thursday by the National Observatory of Energy and Mines under the Ministry of Industry, Mines and Energy.

This drop hit most of the main fields, namely Halk el Manzel, which started production in 2021 (-56%), Ashtart (-26%), El Borma (-14%), Adam (-19%), M.L.D (-31%), Cherouq (-31%) and El Hajeb/Guebiba (-16%).

On the other hand, other fields saw an improvement in production, namely Gherib (+36%), Hasdrubal (+8%) and Cercina (+6%).

Average daily oil production fell from 37.8 thousand barrels/d at the end of February 2022 to 33.2 thousand barrels/d at the end of February 2023.

14% drop in natural gas resources

Natural gas resources (national production + fiscal package) reached 416 ktoe (kilotonnes of oil equivalent), at the end of February 2023, down 14% compared to the same period of the previous year.

The production of dry commercial gas edged down by 13%, with a decrease by 18% in the right of passage of Algerian gas.

Besides, the share of the total royalty between the royalty ceded to STEG and the exported royalty shows that the largest part is given to STEG (85%).

In January 2023, an overrun in STEG levies on the fee due to the Tunisian State was recorded and is in the process of being regularised.

The fiscal package on the passage of Algerian gas fell considerably in the first half of 2020, as the pandemic that hit Europe and notably Italy had a strong impact on energy demand and consequently on the quantity of gas passing from Algeria to Italy through Tunisia.

Nevertheless, an improvement was registered from July 2020 onwards, which continued during 2021 and 2022.

In February 2023, the fee decreased by 4%.

Purchases of Algerian gas went up by 3%, between the end of February 2022 and the end of February 2023, to 395 ktoe, following the drop in production.

The national supply of natural gas dropped by 5% between the end of February 2022 and the end of February 2023 to 803 ktoe.

© Tap 2022 Provided by SyndiGate Media Inc. (