Algeria’s state-owned oil and gas company, Sonatrach, is embarking on a $1 billion project for natural carbon storage by planting 420 million trees over ten years, according to Algerian Energy Minister Mohamed Arkab.
Arkab stated in television remarks that Algeria aims to make renewable energy sources account for 30% of its energy mix by 2035.
Sonatrach announced the discovery of ten new gas and oil fields during the first half of this year in August.
Most of these fields were found near existing facilities and production areas, allowing the company to quickly integrate them into production operations, according to Rabih Baji, the head of exploration at Sonatrach.
Baji mentioned that Sonatrach is currently conducting an audit and evaluation of the productivity of these discoveries, with results expected to be announced before the end of this year.
As part of its annual plan, the company aims to drill 45 wells across Algeria using modern exploration techniques involving three-dimensional surveys.
It’s worth noting that Sonatrach recently appointed Rachid Hachichi as its new CEO, succeeding Toufik Hakkar.
Hachichi had previously served as the interim CEO of Sonatrach for a period a few years ago and is an engineer who has spent most of his professional career with the company.
