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Mauritania's oil output fails to notch up 75,000 bpd target
AFP
NOUAKCHOTT
Petroleumworld.com 11 10 06
The output of oil in Mauritania has failed to climb up to the anticipated 75,000 barrels per day (bpd) remaining at 30,000 bpd due to production problems, the country's oil minister said Thursday.
"The production could not exceed the 30,000 bpd in 2006 for several reasons related to production problems, in particular at the well where the ratio of oil to gas was often in favour of latter," Oil Minister Mohamed Aly Ould Sidi Mohamed, told AFP.
"There are drilled rigs where we found only gas," he explained, adding it has become necessary to drill new wells to be exploited starting January next year to try and improve the production levels.
He expressed optimism the goal of 75,000 barrels per day was achievable but only at the end of 2007.
Mauritania began at the end of February to produce crude oil on its Chinguetti oil fields, 80 kilometres (50 miles), off the capital Nouakchott, and awaits the exploitation of three other offshore fields in the coming years.
As Africa's newest oil producer, Mauritania is looking at boosting its economic growth by up to 20 percent from the oil revenues.
Meantime Mauritania has reduced the price of petroleum products by between 14 and 17 percent in line with the drop in line with international tariffs.
The pump price of diesel dropped 14 percent while that of petrol went down 13 percent and kerosene saw a 17 percent price cut.
AFP 09 1553 GMT 11 06
Copyright© 2006 AFP. All Rights Reserved.
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