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GDF Suez sees 8 per cent drop in 2012/13 gas production

Gas

GDF Suez expects its gas production to drop around eight per cent next year, from 60 million barrels of oil equivalent in 2011 to 55 million boe in 2012 and 2013.

Expected production of 60 million boe this year would be 17 per cent higher than 2010 levels. The company now targets production of around 65 million boe by 2014-15, the group said.

Gudrun and Cygnus fields

Production is forecast to be boosted in 2014 by the commissioning of the Gudrun Field in the North Sea, which has an estimated plateau production of 10mn boe/year.

The 14.2mn boe/yr Cygnus gas field in the North Sea and 14.8mn boe/year Touat field in Algeria are expected to be commissioned in 2015, GDF Suez said.

Major concentration

The group said it was concentrating on expanding in fast-growing emerging markets. It aims to double external LNG sales to emerging markets by 2020, from 34 TWh in 2010 to around 68 TWh by the end of the decade.

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