Sonatrach plans big investment in Algeria

Algeria_energySonatrach is looking to invest US$68 billion in the country's energy sector over the next four years, according to its chief executive.

"We plan to invest US$68 billion between now and 2016. This includes several activities," Sonatrach CEO Abdelhamid Zerguine was reported as saying by Reuters.

First priority

Sonatrach has made unconventional, shale, gas exploration a priority. Sonatrach vice-president in charge of upstream, Said Sahnoun, said the first shale gas well will be drilled in May and a second one in October this year.

Sonatrach Group has also produced 206 mn TOE (tonnes oil equivalent) of oil in 2011, including 148mn TOE produced by Sonatrach alone, according to preliminary figures put forward by Mr. Zerguine. The group exports reached nearly US$72 billion in 2011, against US$57 billion in 2010, an increase of 26 per cent.

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