Petroleum Africa
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Monday, January 20, 2014
In a statement on national radio Algeria’s Energy and Mines Minister Youcef Yousfi announced that oil and natural gas production in the country would increase by 50% over the next 10 years. The minister also said that the increases would be aided by the exploration successes seen in 2013.
“Algeria plans very seriously to double its gas production,” Yousfi said on national radio, adding that shale gas would contribute to the ambitious production plan. He put Algeria’s recoverable reserves at between 25 and 30 Tcf.
Over 2013 Yousfi said 550 million tons of oil equivalent were discovered from 32 new oil and gas. “We are going to see how much we can extract,” he said.
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