Discover Algeria | Press area | Contact  
English Français
Registration
English Français
business-banner

November 15, 2023 | 1 year ago

  • More options

    Share on LinkedIn
    Share on Twitter

ALNAFT: The importance of partnership in hydrocarbon exploration highlighted

news-detail


"National consumption of hydrocarbons is growing by 3% every year, and in order to satisfy it, ..., it is essential to increase production," he said, in a statement to APS news agency on the sidelines of the 11th event of the NAPEC Trade Fair and Congress, opened Monday at the Oran Convention Center. 

Energy security in Algeria is a priority, as the authorities favour securing the domestic market and the rest of the production is destined for export, explained the official, adding that the satisfaction of the domestic market risks increasing the volume of exports, if production is not increased. 

To remedy this situation, Mr. Beldjehem advocates more partnerships to intensify exploration, to discover new deposits and to optimize certain fields of Sonatrach, known as mature fields (fields at the end of their life), which are in decline. 

"Algeria has a huge area with great potential for wealth, and it is impossible to carry out exploration alone," he said, adding that "there are techniques for optimizing mature fields that Algeria can acquire through partnership." 'Partnership, which allows for the sharing of risk, finance and technology, is a strategic choice,' noted the same source. 

On another point, concerning foreign investment in the development and exploitation of hydrocarbons, the president of ALNAFT stated that Sonatrach had signed contracts under the new hydrocarbon law with six companies, namely Occidental, Eni, Total Energies, Pertamina and Sinopec, while direct negotiations with major companies were under way for the signing of other contracts. 


November 15, 2023 | algeria-logo

  • More options

    Share on LinkedIn
    Share on Twitter
Subscribe to the economic newsletter