Newly appointed head of the public oil company, Abdelmoumen Ould Kaddour is putting on a completely new “well thought out” strategy to straighten Sonatrach, a source close to the new CEO told Alg24.
Ould Kaddour’s strategy is not oriented towards oil exploration neither the search for new drillings. But it is primarily based on reducing the cost of producing hydrocarbons, to allow the company earn more, the source same source said.
The cost of producing a single oil barrel exceeds $ 15, much higher than in Saudi Arabia or Iraq. Reducing the output cost through a thoughtful strategy and adequate logistics could save Sonatrach a few dollars more.
Abdelmoumen Ould Kaddour is not limited to reducing the cost of production, but also intends to put an end to company’s international arbitration business, the source explained.