June 2012 | Seamless Steel Tube & Pipe
Algeria’s Sonotrach to resume exploration drilling in Libya later this month: Europe, Middle East and Africa Market Analysis
Sonotrach, which takes part in the entire product life cycle of oil and gas including production, exploration, extraction, transportation, and refining and other oil and gas companies, will add support to the welded and seamless pipe markets.
Algeria’s government-owned oil and gas company Sontrach has announced that they will return to Libya later this month to resume exploratory drilling. Political turmoil and civil unrest forced oil and gas companies out of Libya, between March 2011 and February 2012, the rig count, as reported by Baker Hughes was zero over this period. Toward the end of Q1 2012, rig counts came back online, recording 5 rigs in March 2012. As activity in the oil and gas sector picks up, and more companies return to pursue exploration and extraction of oil and gas, we expect that rig counts will to return to levels seen previous to March 2011.
Sonotrach, which takes part in the entire product life cycle of oil and gas including production, exploration, extraction, transportation, and refining and other oil and gas companies, will add support to the welded and seamless pipe markets. We expect...
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