VOL. XLVI

No 19

12-May-2003

ALGERIA

BP Seeking To Reduce Exposure To Algerian Gas Projects

BP is examining options for reducing its shareholdings in two major Algerian gas projects, MEES learns from authoritative sources. These are the $2.7bn In Salah project, which is due to produce first gas in mid-2004, and the $1.8bn In Amenas gas/condensate project, which is scheduled to begin production in late 2005. However, for the time being BP is to retain its 49% stake in its other major project in...