Sonatrach told to invest more in hydrocarbons

27 May 2015

Algeria’s prime minister says potential not sufficiently exploited

Algeria’s Prime Minister, Abdelmalek Sellal, has told the country’s state-owned energy company to invest more in oil and gas.

“Our potential is not sufficiently explored and exploited,” Sellal said on 26 May, during a meeting with energy sector executives including Sonatrach’s CEO Amine Mazouzi. “We should exploit the new discoveries. It is possible and important. Sonatrach must further invest in the exploration, production and development of hydrocarbons.

Algeria’s economy is suffering as a result of declining hydrocarbons production and lower oil and gas prices.

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