Yang Jing offered a reward of 800,000 US dollars for Morris and his team's protection. In addition, the cost of renting the vehicle was also paid by Yang Jing.
Although Algeria's political situation is much more stable than its neighbor Libya, no one dares to be careless in a place like North Africa, especially a billionaire like Yang Jing, who cannot be careless about safety.
Smiling, he hugged Lin Dan and Chris and shook hands with the mercenary captain Morris who entered the airport lobby with Chris. Then, Yang Jing walked out of the airport lobby surrounded by a group of people, got into the bulletproof Mercedes SUV and drove straight to the city.
After the car arrived at the booked hotel, Yang Jing, accompanied by Lin Dan, Chris and Morris, had a sumptuous meal with local characteristics, then fell into bed and began to adjust to the jet lag.
To be honest, Yang Jing had not expected to come to Algeria this time. The main reason was that Guo Dabao handled the matter too quickly and finalized the deal in just a few days, so Yang Jing had to rush over to see the oil field that Guo Dabao had just bought and had entered the final stage of oil production.
Algeria is rich in oil and natural gas resources and is known as the "oil depot of North Africa". It is the largest natural gas producer in Africa, the second largest natural gas supplier to Europe, and one of the top three oil producers in Africa. Algeria began producing oil in 1958 and soon thereafter became one of the 12 OPEC members in 1969.
Algeria's oil and gas exploration began in the first half of the 20th century. In the mid-1950s, several large oil and gas fields in the Sahara were discovered and developed by foreign companies. In 1971, Algeria nationalized 75% of its oil resources and 100% of its natural gas resources, gaining full control over the development of its own oil and gas resources. Since then, the oil industry has developed rapidly. After 1986, Algeria's oil and gas industry was opened to the outside world, and more than 50 international oil companies came to Algeria to participate in oil and gas exploration and development.
At present, about 80% of Algeria's oil and gas resources are controlled by Algeria's state-owned oil company Sonatrach, and the remaining 20% are controlled by international oil companies. Oil companies such as Spain's Cepsa and Repsol, Britain's BP, Italy's Eni, France's Total, Norway's Statoil, and the United States' Anadarko all own varying numbers of oil and gas fields in Algeria.
It is worth mentioning that because China’s oil imports have been increasing in recent years, it has become the world’s largest oil importer. Now China’s two oil companies have also entered the Algerian oil market.
Algeria has extremely rich oil and gas resources, but with the continued weakness of the international crude oil market, coupled with the fact that most of Algeria's oil fields are located in the central and eastern Sahara Desert, the average cost of crude oil extraction in the country is as high as $52.7 per barrel, which is not very competitive internationally. Especially after more than half a century of exploitation, some small and medium-sized oil fields have begun to enter the end of oil production, so now in Algeria, many international oil companies are looking for "takeovers" for their oil fields.
It was under such circumstances that Guo Dabao accepted a medium-sized oil field from France's Total near the small town of Borma on the border between Algeria and Tunisia.
The proven reserves of this oil field are 58 million tons, but after nearly three decades of exploitation, this oil field has inevitably entered the end of its life.
The oil field is located on the border of Atu, with a total of eleven oil wells. At its peak, the oil field could produce more than nine million barrels of crude oil per year, but now, the annual output is less than one million barrels, and the average daily output of each oil well is only a little over thirty tons.
This oil field is deep in the Sahara Desert. Although there are the famous Duleman Well and Roman Well around it, the low output has put the oil field in a loss-making state. After all, the usual maintenance and labor costs are very high, so Total plans to sell this medium-sized oil field. Guo Dabao took over and spent 47 million US dollars to buy the oil and gas exploration and mining rights of this oil field and the surrounding areas.
In fact, this deal is obviously a loss-making deal. A medium-sized oil field deep in the Sahara Desert, and an oil field that has entered the final stage of exploitation, let alone whether it is worth so much money, why would you buy it? Are you playing to lose money?
If it were another oil company, I'm afraid no one would be willing to take over Total, but Yang Jing knew that the power behind Guo Dabao was extraordinary. Guo Dabao's decision to do this unprofitable business was probably supported by the power behind him.
Yang Jing couldn't say anything else about this situation. After all, the power behind it had its own overall considerations, which were not something Yang Jing or Guo Dabao could interfere with. However, since Guo Dabao bought the oil field, Yang Jing couldn't just watch Rongbao Mining lose money, right? After all, Yang Jing was also a major shareholder who held 40% of Rongbao Mining's shares. If Rongbao Mining lost money, that would be taking money out of Yang Jing's pocket!
Just because Guo Dabao is willing to be such a sucker doesn’t mean that Yang Jing is willing to do such a losing business.
So, Yang Jing is here!
PS: I would like to thank “冰冷八度” for the reward of 200.
Continue read on readnovelmtl.com
