✏️ BY: Dr. Hana Saada
Algiers- Algeria, May 8, 2024 – Algeria is confronting a new challenge in renewing its hydrocarbon resources, aiming to enhance production while ensuring sustainability for future generations.
To achieve this objective, Algeria, through its national oil company Sonatrach, has launched an extensive exploration operation, investing significantly in this endeavor. In order to bolster exploration activities and ensure the success of this resource renewal effort, the National Agency for the Valorization of Hydrocarbon Resources (Alnaft) has initiated a comprehensive process to assess the country’s hydrocarbon potential. In this regard, a partnership has been established with the Norwegian company Equinor to conduct a study on Algeria’s hydrocarbon potential. “This agreement was signed on Monday with Equinor Algeria BV for the realization of a study on Algeria’s hydrocarbon potential,” announced the Alnaft in a press release.
The objective of the study is to identify Algeria’s potential hydrocarbon reserves and will span over 18 months, with the possibility of extension for an additional year. “The agreement defines the terms and conditions under which Equinor Algeria BV will carry out the study,” clarified the statement. This development comes at a critical juncture as Algeria is committed to addressing multiple challenges in hydrocarbon supply, particularly in the gas sector, for both domestic consumption and international markets.
Furthermore, in light of the depletion of confirmed national hydrocarbon reserves, estimated at around 2400 billion cubic meters for gas and 12 billion barrels of oil, Algeria is placing significant emphasis on renewing its reserves to meet growing domestic demand and fulfill international obligations. Consequently, prioritizing research and exploration activities has become paramount for the national oil company in the coming years, with an allocation of over $36 billion exclusively for exploration and production.
In an active international market, Algeria is seizing opportunities by focusing on enhancing production to achieve a volume of 100 billion cubic meters of gas for export in the near future, double the current export volume. While exploration efforts have predominantly concentrated on areas surrounding existing fields, Sonatrach aims to broaden its scope to encompass remote areas with substantial hydrocarbon potential. Discussions are currently underway with foreign entities, including Norwegian Equinor and French CGC, to expand the sector beyond the presently exploited zones. This signifies a significant stride in implementing the country’s new energy policy, which aims at maximizing production.
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Dzair Tube has firmly established itself as a prominent player among Algerian digital news sites, offering a diverse and enriching content experience. The platform, available in Arabic, French, and English editions, captures the attention of a wide-ranging audience, amassing over half a million daily clicks.
A testament to its commitment to excellence, Dzair Tube received the prestigious President of the Republic’s Award for Professional Journalist in the Electronic Press category on October 22, 2022. This recognition underscores the platform’s unwavering dedication to upholding the highest standards of journalism.
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