The Algerian oil and gas group Sonatrach is considering a US $ 59 billion investment in the country in the medium term in the field of energy.
Sonatrach’s Vice President of Strategy, Planning and Economics, Farid Ghezali, gave the news on Sunday 09 September at a lively conference on “investment opportunities for Algerian companies” in the part of the Company Information Days.
According to the senior official of the Algerian company, this amount will be disbursed in particular in exploration, production, refining, petrochemicals and pipeline transportation.
In addition, Sonatrach will help the creation of companies including engineering, iron and steel, pipe manufacturing, boiler equipment and industrial subcontracting.
According to Algerian energy minister Mustapha Guitouni, Sonatrach’s overall investment volume was in the order of $ 10 billion a year on average.
