Sonatrach intends to invest USD59 bn in medium-term

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State-run oil and gas group Sonatrach is planning,  as part of its Strategy 2030 medium-term develop programme to launch projects amounting to more than 59 billion US dollars on exploration and production activities, refineries and pipelines.

Sonatrach’s deputy chairman for strategy, planning and economy, Farid Ghezali, said, Sunday in Algiers, that the company intends to devolop projects with an amount of more than 59 billion US dollars on exploration and production activities, refineries and pipelines.

In this aspect, the official specified that 45.8 billion USD would go to exploration and production, 8.6 billion USD to refineries and petrochemical industry and 2.3 billion USD to pipelines.

He highlighted that several factors have allowed the group to make large-scale investments at the local level, including the increasing demand for oil products and the development of non-conventional natural gas.

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