Algeria’s state-owned oil and gas group Sonatrach has announced intentions to invest $40 billion between 2022 and 2026 in oil exploration, production and refining, and gas exploration and extraction, CEO Toufik Hakkar said Monday.
“Our investment plan between 2022 and 2026 is about 40 billion dollars, including 8 billion dollars in 2022,” Hakkar said explaining that one-third of the investment will involve foreign partners.
“The largest share will be devoted to exploration and production, to preserve our production capacities, as well as to projects in refining to meet the national demand for fuel,” he said.
In this interview, the group’s boss also announced Sonatrach’s steps “towards its return to Libya”, where it has suspended most of its activities since 2014.
According to Hakkar, a delegation of the group will…
#africatourism #africatravel