Image: menas.co.uk
Sonatrach is increasing efforts to boost domestic hydrocarbon production in a bid to safeguard Algeria’s energy security and subsequent foreign exchange earnings.
“It is imperative to renew the national reserves of oil and gas,” said Toufik Hakkar, CEO of Sonatrach.
During site visits to gas fields such as the industrial zone of Hassi Rmel, Hakkar assessed the progress of the gas treatment and compression station of the center. The Hassi Rmel gas field is estimated to be able to produce around 400 billion cubic meters (bcm) of additional gas reserves for Algeria.
The North African producer is seeking to offset a predicted reduction in gas exports, which Sonatrach has estimated at 25-30 bcm per year from 2030 onwards. Algerian Minister of Energy H.E. Abdelmadjid Attar has estimated that natural gas and liquified natural gas (LNG) exports could drop to 26-30 bcm per year between 2025-2030.
In comparison, Algeria exported a total of 40.9 bcm of pipeline gas and LNG last year.
