Algeria's state-owned Sonatrach plans to invest $90.6 billion in oil exploration over the next five years, a report quoting its CEO said.
About eight per cent of the spending will be used for fuel transport, Said Sahnoun said
Algeria plans to drill its first offshore oil well by the end of 2015, having boosted annual refining output to 31 million tonnes at the end of last year, Energy Minister Youcef Yousfi said.
Output was 25 million tonnes when the country
Algeria -based Sonatrach and GE have signed a Memorandum of Understanding to launch a joint venture to manufacture equipment used in the oil and gas industry, a report said.
The company aims to produce drilling and production equi
Algerian state energy company Sonatrach plans to intensify exploration by drilling 125 wells a year with a target of increasing production to 225 million tonnes of oil equivalent by 2019, it said.
The North Afr
Algeria's state energy company Sonatrach has replaced its chief Abdelhamid Zerguine with vice president for production Said Sahnoun, a senior Sonatrach source told Reuters on Saturday.
The source, who asked not to be identifie
Algerian state energy company Sonatrach plans to increase its investment to $80 billion over the next five years as the Opec member country seeks to expand its gas resource base and boost its refining and petrochemical capacity. &
Algerian state energy company Sonatrach is planning to invest $68 billion in the country's energy sector over the next four years, its chief executive said on Tuesday.
'We plan to invest $68 billion between now and 2016. This inclu
Algerian state-owned energy company Sonatrach has halted operations in Libya, Kuwait's Kuna news agency reported on Sunday, citing Algeria's energy minister.
Youcef Yousfi said Sonatrach's operations had stopped completel