The Minister of Energy and Mines, Mohamed Arkab, announced this Wednesday evening in Algiers, the realization of eight (8) “major” and “very important” discoveries in the field of hydrocarbons in Algeria, in “new sites”, since the beginning of the current year, thanks to Sonatrach’s efforts.
Mr. Arkab, a guest on public television, declared: “We have made important discoveries since the beginning of this year until the end of the last week of May, numbering eight very important discoveries, which will bring large contribution to national hydrocarbon reserves, particularly concerning natural gas.”
He specified that the discoveries recorded concern “new hydrocarbon deposits located in Béchar, south of Ain Salah, north of Djanet, south of Illizi and north of Ouargla.”
After affirming the reliability of Algeria as a source of natural gas for Europe and Asia, the minister expressed the willingness of the Algerian authorities to continue their efforts to supply their partners with significant quantities intended for these markets. , reiterating Algeria’s objective to increase and intensify gas production.
Mr. Arkab affirmed that Algeria has the necessary means to increase its gas production to 200 billion cubic meters per year “in the medium term”, against a current production of 137 billion cubic meters.
The minister attributed the great achievements recorded in the field of partnership to the implementation of the wise policy of the President of the Republic, Mr. Abdelmadjid Tebboune, about improving the investment climate and welcoming the dynamic that knows Algeria in many sectors.
Asked about the prospects for transformation activity and valorization of hydrocarbon resources at the local level, Mr. Arkab said that the objective set is to increase the valorization rate from around 32% currently to 50% in the future. , as part of the petrochemical activity.
He specified that, per the instructions of the President of the Republic, it is now prohibited to export raw iron ore and raw phosphate to transform them locally, adding that, for hydrocarbons, an objective has been set in the part of the government’s action plan and Sonatrach’s program to achieve the transformation of 50% of crude oil locally for the manufacture of raw materials for the manufacturing industry in Algeria, which are currently imported.
