Algeria’s Energy Minister Mohamed Arkab announced on national television that Algeria plans to increase its gas production to 200 billion cubic meters in the medium term, up from 137 billion cubic meters in 2023.
Arkab highlighted that Algeria has made eight new gas discoveries this year, which will significantly bolster production and contribute to the national hydrocarbon reserves, especially natural gas, which is crucial for the national economy.
He stated, “Sonatrach has invested heavily in these discoveries, particularly in the areas of Bechar, south of Ain Salah, north of Jannat, south of Illizi, and east of Ouargla.”
Discussing Algeria’s investment climate, Arkab said, “It is very attractive, and the Algerian Hydrocarbon Law, which has been in effect since 2020, meets international standards.
It has yielded several significant contracts with major global companies such as Norway’s Equinor, Italy’s Eni, and recently, U.S. company Occidental Petroleum. These contracts with Sonatrach aim to develop, exploit, and produce hydrocarbons.”
Arkab also emphasized that Algeria is a reliable country for exporting natural gas and oil, with long-term contracts and substantial quantities supplied to the European market and other markets, including Asia.
He noted that the current goal is to develop, increase, and intensify production. Additionally, the President has set a target to reach an annual production of 200 billion cubic meters soon.
“Approximately 137 billion cubic meters of gas are currently being produced, and efforts are being made to achieve the target of 200 billion cubic meters per year in a short period,” said Energy Minister Mohamed Arkab.
