Algeria

Algeria’s Sonatrach eyes partnerships with Exxon Mobil

October 01, 2019 | Algeria, Contracts, Mergers, Acquisitions & JVs

Algiers, Algeria |   –  Algeria’s state-owned Sonatrach held meetings with Exxon Mobil last week to discuss possible partnerships, a Sonatrach statement said on Monday, a week after it said it had talked with America’s Chevron Corporation. Sonatrach gave no further details of the September 25 and 26 meetings but the energy producer has said it wants to boost output to increase revenues after a decline in prices hit its budget. Some 95% of Algeria’s foreign revenue comes from oil and gas sales. Since energy prices …

Sonatrach, Turkish Rönesans to invest $1.2 billion in petrochemical plant

November 30, 2018 | Algeria, Budget & Investment, Petrochemicals

London, UK| – Turkish conglomerate Ronesans  Holding and Algeria’s Sonatrach have announced they will invest $1.2 billion to build a petrochemical facility in southern Turkey. In a press conference in Istanbul on Nov. 28, the companies said that the facility would be built in the Ceyhan industrial zone in Adana in a bid to produce polypropylene; a product on which Turkey is highly dependent on imports. Industry and Technology Minister Mustafa Varank said that the facility would produce 450,000 tons of polypropylene annually when it becomes fully operational in 2023; more …

Algeria’s Sonatrach signs offshore exploration deals with Total, Eni

October 30, 2018 | Algeria, Budget & Investment

Algiers, Algeria | – Algeria’s state energy firm Sonatrach on Monday signed deals with France’s Total and Italy’s Eni for the first oil explorations off the North African country’s Mediterranean coast. Last month Sonatrach announced it aimed to start exploratory drilling in the waters from early 2019 as Algeria looks to stem a decline in its overall oil output. The deals inked Monday cover the “exploration and evaluation of the oil potential of the eastern and western parts of the Algerian offshore basin”, Sonatrach said …

Algeria’s Sonatrach to invest $250million to boost output at Tinhert gas field

March 15, 2018 | Algeria, Budget & Investment

Tinhert, Algeria |  – Algerian state energy firm Sonatrach will invest $250 million to boost output at the Tinhert gas field to 20 million cubic metres (mcm) per day by 2020 up from 5 million cubic metres, its CEO said on Monday. “This is an important project that will push our gas output up,” Sonatrach’s CEO Abdelmoumen Ould Kaddour told reporters on the site located in Algeria’s southeast not far from Libya’s borders. Algeria’s total gas output is around 100 billion cubic metres per year, …

Algeria’s Sonatrach, Baker Hughes form JV to build Algeria plant

November 12, 2017 | Algeria, Company Operations, Oilfield Services

Algiers, Algeria | – Sonatrach, Algeria’s state energy producer, has signed an agreement with Baker Hughes, a GE company (BHGE), to set up a 2,000-sq-m oilfield equipment manufacturing facility in Arzew Industrial Zone aiming to strengthen Algeria’s position in the upstream oil and gas market to meet local demand. The agreement was signed in the presence of the Minister of Energy, Mustapha Guitouni, at a ceremony hosted by Sonatrach in Algiers. Sonatrach and BHGE will have 51 per cent and 49 per cent ownership respectively, …

Algeria to invite bids to build three solar power plants

April 07, 2017 | Algeria, Renewable Energy, Solar

Algiers, Algeria |  –  Algeria plans to invite bids for construction of three photovoltaic solar power plants with total capacity of about 4,000 megawatts (MW), and several energy and financial firms are already interested, the energy ministry said. Algeria, a member of the Organization for the Petroleum Exporting Countries, (OPEC) has been exploring renewable energy as a way to meet growing demand for electricity, while also freeing up more natural gas for export. Energy Minister Nouredine Bouterfa said in a statement late on Thursday the ministry would …

Algerian state energy firm Sonatrach replaces CEO

March 21, 2017 | Algeria, People on the move

Algiers, Algeria | –  Algerian state energy firm Sonatrach has replaced Chief Executive Amine Mazouzi after less than two years in the job, naming Abdelmoumen Ould Kadour to replace him, the energy ministry said on Monday. A statement from the ministry gave no reason for the change. Ould Kadour is an engineer who graduated from the Massachusetts Institute of Technology and headed U.S.-Algerian firm Brown & Root Condor in the 1990s. Since last year, Sonatrach has begun to reverse a stagnation in its oil and …

Sonatrach, Eni get 34 bids for Algerian solar power plant

March 17, 2017 | Algeria, Solar

Algiers, Algeria |  – Algerian state energy firm Sonatrach and Italy’s ENI have bids from 34 international firms to build a 10 megawatt solar power plant at Bir Rebaa North (BRN) in eastern Algeria, a Sonatrach source said. Major oil and gas producer Algeria is looking to expand into solar energy as it tries to meet growing domestic energy demand and officials say the North African country will soon launch a major project to build a 4,000 megawatt solar plant. Those bidding for the plant …