VOL. XLV
No 44
4-November-2002
ALGERIA
BP Takes $230Mn Financial Charge For Rhourde El-Baguel
The disappointing enhanced oil recovery (EOR) project atAlgerias Rhourde el-Baguel has led BP to take a non-recurring financial charge of $230mn for accelerated acquisition amortization, according to the statement of its 3Q02 results released on 29 October. MEES understands that the gas injection scheme has not resulted in the planned repressurization and mobilization of oil with the result that...
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