Petroleum Africa
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Monday, October 30, 2017
The CEO of the Algerian energy giant Sonatrach, AbdelmoumenOuldKedour, said the company is set to invest $50 billion over five years. “We are currently in the process of elaborating a five-year development plan, and we expect to invest about $50 billion during this period,”OuldKedoursaid speaking to the country’s local radio channel.
The Sonatrach boss went on to say that this development plan will take account of all sectors of activity, including exploration, drilling, exploitation, management methods and personnel training.
Earlier the country’s Energy Minister Mustapha Guitouni, said Sonatrach has discovered 26 new hydrocarbons fields between January and September 2017, compared with 28 discoveries a year earlier. These discoveries were conducted without any foreign partnership.
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