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    Oil & Gas 360: Algeria to Spend $64 Billion Upstream to Reverse Production Declines in the Next Three Years

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Summary

Algeria’s national oil & gas company, Sonatrach, will spend $64 billion from 2015 to 2018 on upstream activities to reverse crude and natural gas production

by: Erica Mills

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Press Notes, Africa

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Oil & Gas 360: Algeria to Spend $64 Billion Upstream to Reverse Production Declines in the Next Three Years

Algeria’s national oil and gas company, Sonatrach, plans to spend $64 billion, or 70% of its total investment program from 2015 to 2018, in upstream activities to reverse the decline in crude oil and natural gas production in Algeria, according to a release from the Energy Information Administration(EIA). Sonatrach set a goal to increase gross hydrocarbon output from 1,429 MMBOE in 2014 to 1,649 MMBOE by 2019.

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