42 billion dollars for Sonatrach in 5 years – Al-Hiwar Al-Jazaeryia

reveal aFor the Director General of Economic Studies and Foresight at the Ministry of Energy and Mines, Miloud Vold, The dayThursdayHe announced the allocation of $42 billion to develop Sonatrach’s research and exploration operations between 2023 and 2027, in implementation of the strategy for extracting unconventional energies, while Algeria’s gas production is expected to rise to more than 10 billion cubic meters.

During his appearance as a guest on the “Morning Guest” radio program, he talked about the bet on extracting unconventional and internationally balanced energies, so $42 billion has been allocated to develop Sonatrach’s research and exploration operations between 2023 and 2027, according to him, as it includes the development of the hydrogen division in order to provide additional energy solutions, noting To allocate a value of between 20 and 25 billion dollars for the exploitation of green hydrogen.

Mujlad praised Algeria’s great achievements since 1971, when hydrocarbon production tripled, which amounted to 1,500 barrels per day, which made the national electricity coverage rate reach 99 percent, and gas up to 65 percent. The Director of Economic Studies and Foresight spoke about 16 discoveries of 100 million tons of oil equivalent, which will enhance Algeria’s reserves of oil and gas, pointing to the interest in starting oil exploration in the coast, similar to the important oil field in Hassi Messaoud, which will be inaugurated by the Prime Minister, Ayman Ben Abdelrahman, this Thursday.

Miloud Mojled indicated that Sonatrach concluded several contracts with international partners, amounting to 6 billion dollars, which will allow to raise oil production from 190 million tons of oil equivalent to 210 million tons of oil equivalent, and gas production will increase to more than 10 billion cubic meters. Which will fulfill all requests.

The source focused on planning for the development of natural gas transportation technology, as Mujlad announced 7 petrochemical projects, including 4 with foreign dealers, to raise transformational capacities, including the conversion of phosphates to produce urea and ammonia, in addition to the zinc project in Bejaia, which will push the manufacturing industries from 30 to 50 percent, which is What will create wealth and added value. In addition to producing 15,000 megawatts of solar energy by 2035, where production currently stands at 500 megawatts.