Continental Focus, International Reach

Algeria in US Touting Shale Potential

Sunday, February 4, 2018

Sonatrach and Sonelgaz, Algeria’s state-run petroleum and gas firms respectively, are in Houston trying to round up interest in the major development projects they plan to launch.During one of the sessions that took place at the 2nd Algeria-US Energy Forum Abdelmoumen Ould Kaddour, CEO of Sonatrach, revealed the state-run firm had developed a $56-billion investment plan for implementation over the next five years.

According to Ould Kaddour, the details of the projects will be released in the coming weeks. “This is an important announcement for partners wishing to invest in Algeria,” he told representatives of companies participating in the Forum.

 

The state-run firm’s latest strategy to diversify energy resources revolves around investments in its offshore and shale gas activities


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