Platts: Algeria's Sonatrach to Continue Investments Aimed at Oil, Gas Sector Expansion

Algeria, which has been among the chief critics of Saudi Arabia's plan to defend OPEC's market share instead of oil prices, now appears to be following its own plan to shore up influence in the global market, remarks this week by the head of Sonatrach indicate.

"Our objectives for medium-term investment over the period 2015-2019 are aimed at reinforcing Algeria's position in international oil and gas markets while continuing to meet the needs of the steadily evolving domestic market," Sonatrach CEO Amine Mazouzi said Monday in Oran.

In his opening speech at a science and technology forum hosted by the state petroleum company, he listed several key areas requiring investment: oil and gas exploration, efforts to maintain or increase production from existing fields, refining sector development, expansion of pipeline networks and LNG production capacity, and petrochemicals development.

Mazouzi said Sonatrach was aware of its role in supporting Algeria's economic growth by increasing oil and gas reserves in an economic manner in order to raise production levels and respond to domestic and international energy demand. MORE