BY: Hana Saada
ALGIERS- Sonatrach, the renowned Algerian oil and gas group, has once again demonstrated its dominant position in the African business landscape. According to the latest report released by the company, Sonatrach achieved an impressive export turnover of $21 billion by the end of May 2023, cementing its status as a major player in the industry.
The report, presented by Boutaleb Mohamed Rochdi, Director of Performance Management at Sonatrach, and witnessed by CEO Toufik Hakkar, highlights the company’s remarkable achievements in the first five months of the year. Marketed production during this period reached a staggering 68 million tonnes of oil equivalent (TOE), with 38 million tonnes exported, representing a 2% increase compared to the same period in 2022.
Sonatrach’s primary production of hydrocarbons also experienced a 2% growth, reaching 80 million TOE by the end of May 2023, compared to 79 million TOE during the same period last year. These impressive figures reflect Sonatrach’s commitment to delivering reliable and high-quality hydrocarbon products to the global market.
As Sonatrach celebrates the 52nd anniversary of the nationalization of hydrocarbons, the company finds itself operating in a unique international context. Sonatrach has announced groundbreaking oil and gas discoveries, as well as signed significant agreements and made substantial investments, further strengthening its position as a trusted supplier and provider of hydrocarbons worldwide.
Over the past three years (2020-2022), Sonatrach has achieved no less than 35 new hydrocarbon discoveries, with 34 of them resulting from the company’s own efforts. Noteworthy findings include the Touggourt oil field with an estimated deposit of one billion barrels, the Zemlet El Arbi research area in the Berkine basin, and a gas condensate discovery in the Hassi R’mel perimeter (Laghouat).
Sonatrach’s exploration efforts have yielded impressive results, including a major discovery of condensate gas in the Hassi R’Mel perimeter. Located in the Lias Carbonaté reservoir (LD2), this discovery represents one of the largest reserve revaluations in the last two decades, with a volume estimated between 100 and 340 billion m3 of gas condensate.
Furthermore, Sonatrach recently made another significant oil discovery in the Sbaa region at Haasi Illatou. Preliminary estimates indicate a volume in place that could exceed 150 million barrels, marking the first oil discovery in the Sbaa region in 28 years since 1994.
In addition to these momentous discoveries, Sonatrach has achieved success in drilling oil wells, particularly in the El Ouabed perimeter in the wilaya of El Bayadh and the Touggourt Est I perimeter north of the Hassi Messaoud field. These productive tests have confirmed the substantial volumes of crude oil and gas reserves.
Despite challenging market conditions, Sonatrach has achieved a significant milestone by successfully placing volumes of diesel and gasoline on the international market for the first time in a decade. With substantial natural gas reserves and increased production, the company aspires to become one of the world’s most important sources of gas supply.
At present, global natural gas production exceeds 130 billion m3, with over 50 billion m3 dedicated to export. Sonatrach boasts a liquefaction capacity of more than 30 billion m3/year, aided by the presence of four liquefaction complexes. These capabilities position Sonatrach as a key player in meeting the rising global demand for natural gas.
Furthermore, Sonatrach is poised to lead the development of future low-carbon industries, including green hydrogen and photovoltaic electric energy. These sectors represent vital engines of growth for Algeria, and Sonatrach’s involvement signifies its commitment to sustainable and environmentally friendly energy solutions.
With its exceptional export turnover and impressive achievements in exploration and production, Sonatrach continues to be a driving force in the global oil and gas industry. The company’s unwavering dedication to excellence and its commitment to sustainable energy make it a pivotal player in Algeria’s economic growth and a reliable partner on the international stage.
About Sonatrach:
Sonatrach is the national hydrocarbon company of Algeria and is renowned for its expertise in the exploration, production, and marketing of oil and gas. With its extensive operations and global presence, Sonatrach plays a critical role in ensuring energy security for Algeria and meeting international demand for hydrocarbon products.
