Algerian Energy Minister Mohamed Arkab said in an interview with Asharq that many new gas fields have recently entered production in Algeria, and other fields will enter production before the end of 2023, indicating that the state energy company Sonatrach will invest $42 billion to increase oil production. And gas.
In this interview, Arkab spoke about Algeria’s plans to increase gas exports to Europe during the winter, pointing to the challenges facing Algeria in the face of “changes in the global energy landscape.” He added that the country seeks to meet the growing demand for natural gas, especially in Europe.
In a related context, The Minister of Energy in Algeria has urged European companies to boost their investments in technology related to the extraction and manufacturing of natural gas. Additionally, the minister emphasized the importance of sharing risks and costs with Algeria, highlighting the potential for mutual benefits through the utilization of the expertise and knowledge possessed by international companies.
The Algerian Minister of Energy spoke to Asharq about his country’s plans to invest in the oil and gas sectors and increase their production, saying: “Algeria aspires to develop its production capabilities” in the hydrocarbons sector.
In relation to natural gas, the minister reported that numerous fields commenced production in the current year. Furthermore, there are expectations for the operation of additional fields before the end of 2023. The minister highlighted that the production is projected to increase by approximately 4 billion cubic meters by the conclusion of 2023.
The Minister of Energy in Algeria elaborated on the efforts of the country to boost primary production with the goal of preserving its market shares in foreign markets. This involves the adoption of new technologies that facilitate more efficient resource investment.
Arkab expected the primary production of hydrocarbons in Algeria to increase by 2% annually during the period from 2023 to 2027, to reach about 209 million tons equivalent by 2027.
