Algeria: Sonatrach makes massive investments in energy despite the crisis
6 October 2009
Even though the world economy has hardly emerged from the recession, the Algerian petroleum group Sonatrach is pressing ahead with its policy of investing in energy infrastructures.
“The present state of the world economy has certainly incurred a drop in energy demand, but that’s no reason for us to slow down in our programme of investment”, as Mohamed Meziane, President of Sonatrach, explained in an interview with the APS press agency.
The group is looking to achieve a production of 120,000 barrels per day between now and 2015, based on the deposits it is now developing, in particular in Africa.
The group has a presence in Egypt, Libya, Niger, Tunisia, Mali, Mauritania, and is likewise working to bring about a huge gas pipeline project between Nigeria and Europe.
Mr. Meziane also made reference to the investment plan for Algeria, which includes not only the development of deposits, but also of infrastructures for increasing refining and transport capacities.<br/>