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The Arab oil company said it plans to develop oil fields with help from an international oil company that can produce up to 1 billion cubic feet of fuel per day by 2012. Repsol/YPF of Spain, the largest international oil company (IOC) active in Ecuador, would suffer most if the state became an active member of OPEC, adhering to maximum production quotas. Needed as one of the projects is a complex 300,000 b/d refinery to be built for the Greater Algiers area, which Naftec has been offering as a BOT venture to be run by a qualified international oil company (IOC). |
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