Platts: US companies keen to invest in Algerian unconventional oil, gas: Moniz

US companies are interested in developing unconventional oil and gas resources in Algeria, US Energy Secretary Ernest Moniz said Sunday.

"Our companies are interested in the Algerian market because they have extensive experience in the field of shale oil and gas exploitation, which has enabled us to realize an economic boom and energy independence," he said during an official visit to Algiers.

After meeting with Algerian energy minister Youcef Yousfi, Moniz said he saw numerous investment opportunities for US firms in Algeria's energy sector. The experience gained in recent years in the US shale oil and gas sector could be put to use in Algeria, he said.

Regarding deepwater oil and gas development, he said the expertise of US producers could be transferred to Algeria's offshore areas in the Mediterranean, where water depths are comparable to those in the US Gulf of Mexico, he added.
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