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Algeria plans $45.5b energy investment
Algeria's energy sector plans to invest $45.5 billion in 2008-2012, with $35.8 billion from state company Sonatrach and $9.7 billion from foreign partners, Energy and Mines Minister Chakib Khelil said in remarks published yesterday.
- Reuters
- Published: 23:35 August 3, 2008
Algiers: Algeria's energy sector plans to invest $45.5 billion in 2008-2012, with $35.8 billion from state company Sonatrach and $9.7 billion from foreign partners, Energy and Mines Minister Chakib Khelil said in remarks published yesterday.
The aim of the spending is to increase the North African Opec (Organisation of Petroleum Exporting Countries) member country's oil production and gas exports, Khelil was quoted as saying by the Algeria Weekly Energy magazine.
"Sonatrach total investment, including its partners' share, over the medium term plan of 2008-2012, amounts to $45.5 billion," he was quoted as saying.
"Of that figure some $35.8 billion represents Sonatrach's own investment, transport by pipelines, downstream activities and petrochemical projects, as well as external servicing activities set up through joint ventures.
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