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Chad’s Finance Minister Says Crude-Oil Output to Triple by 2015

Chad expects output of crude to more than triple by 2015 as new oil fields located near Lake Chad will start producing next year, Finance Minister Atteib Doutoum said.

Oil production may reach 200,000 barrels a day in 2014 and 300,000 barrels in 2015, Doutoum said yesterday in an interview in Abidjan, Ivory Coast’s commercial capital. Output fell to 97,000 barrels daily this year from 110,000 barrels in 2012 as “technical issues” have disrupted drilling operations, Doutoum said. These will be addressed before year-end, he said, declining to provide more information.