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Sonatrach plans $63bn investments

Abu Dhabi, May 28, 2009

Algeria's state energy company Sonatrach plans to spend $63 billion on oil and gas developments between 2009 and 2013, its chief executive said on Thursday.

Mohamed Meziane was speaking at an industry conference in the UAE capital Abu Dhabi.

He said Sonatrach is currently exporting 60 billion cubic metres (bcm) of gas per year and is targeting 85 bcm by 2012

The firm is currently producing 150 bcm of gas per year, Meziane said. - Reuters

Tags: oil and gas | Sonatrach |

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