Algeria Made 31 Oil, Gas Discoveries in 2012

Algeria made 31 oil and natural gas discoveries last year, including 24 by state-run Sonatrach alone, compared with 20 finds in 2011, Bloomberg reported citing a statement by country’s Energy Minister Youcef Yousfi.

The new discoveries didn’t keep pace with the amount the country produced from reserves last year and Algeria needs to attract foreign partnerships, Yousfi told parliamentarians in Algiers, Bloomberg reported.

National demand for energy products will probably rise to a range of 80 million metric tons to 100 million tons of oil equivalent in 2030, from current consumption of 46 million tons a year, he said.