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Sunday, May 7, 2017
Algeria has garnered another major E&P firm’s interest in its offshore potential, as well as its solar and wind energy projects. According to a statement from Algeria’s Ministry of Energy, Norway’s Statoil has expressed an interest in investing in increasing its investments in the North African country’s conventional resources and branching out into its renewable energy projects.
Norwegian Foreign Affairs Minister Borge Brende said, “business prospects not only in the gas sector but also wind, solar and offshore,” according to the Algerian ministry statement.
A 4,000-MW solar project is set to be announced by Algeria shortly. Algeria’s Energy Minister Nourredine Bouterfa also said the government planned a project with a capacity of 3,000 MW from wind energy.
In February, a Sonatrach official revealed that the company was in talks with several oil companies regarding offshore drilling. While the North African country is one of the continent’s largest producers, all of its production is from onshore fields, despite its neighbors to the east and west producing from offshore fields. A Reuters report cited a source at Sonatrach as saying that the firm was in talks with IOCs like ExxonMobil, Anadarko, and ENI.
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