By way of its “SH2030” plan, Algeria’s Sonatrach aspires to become the world’s fifth-largest national oil company (NOC) by the year 2030. Advertisements
Petrofac has been awarded a contract worth around US$1 billion with Groupment Isarene, the joint operating group set up by Sonatrach, Petroceltic and Enel, for the Ain Tsila Development Project in Algeria.
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The US group Anadarko, the largest producer of crude oil among Sonatrach’s partners, expressed willingness to renew its production contracts in Algeria and reinforce its activity there, a senior official from Sonatrach told APS.
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Neptune Energy and Sonatrach have announced that first gas has gone in to its Touat project in Algeria as part of project commissioning.
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Algeria’s Sonatrach has signed a $1 billion contract with India’s Larsen & Toubro to build plants to produce 11 million cubic metres of gas per day, Sonatrach’s CEO said on Monday.
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Algeria, whose president Abdelaziz Bouteflika will seek a fifth term in April, gets most of its income from oil but was hit hard by falling crude prices in 2014.
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Algeria has cut its oil production by around 24,000-25,000 barrels per day since Jan. 1 as part of the OPEC and non-OPEC agreement to reduce output, state-controlled news agency APS quoted an oil official as saying.
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Algeria will conclude its deal with Exxon Mobil Corp and set up a trade joint venture with an international company before the first half of 2019, Sonatrach’s CEO said on Monday.
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Algeria has entered into a $6 billion phosphate JV deal with a Chinese firm to build a phosphate plant in Tebessa province. The JV deal is between Algeria’s state-run firm Sonatrach, Algerian firms Manal and Asmidal and Chinese state-owned consortium CITIC Group Corp.
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Italian energy company Eni and its French peer Total have signed a deal to jointly explore for oil and gas in Algeria.
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