WORLD ENERGY CONGRESS: ENERGY MINISTER PRESENTS THE MAIN ELEMENTS OF ALGERIA’S ENERGY POLICY
- 23 July 2017 / News / 716 / Emerging Africa
The Algerian Minister of Energy, Mustapha Guitouni, has presented, on Wednesday in Istanbul (Turkey), the main elements of Algeria’s energy policy at the 22nd World Energy Congress, APS reported.
During a session dedicated to Algeria, the Minister has presented a speech, entitled “For a stronger partnership in the Algerian energy sector”.
In this regard, he stressed the government’s strategic option of strengthening partnership and the need to seek better profitability through optimal use of technologies, as well as better use of Algerian resources, the Ministry said in a statement.
Guitouni has reminded the audience of the vast mining sector with large hydrocarbon resources, but relatively little explored, available to Algeria, as well as the will of the government to work “to make the investment framework more attractive, with the objective of increasing the country’s reserves and supporting the growth of the country’s production capacity in short and medium term.”
He added “this will contribute, to strengthening Algeria’s economic growth, meeting the growing domestic demand for energy and maintaining the country’s role in the international energy arena, particularly in marketing of natural gas”.
Regarding the four objectives of energy policy in its hydrocarbon component, the Minister said that the first step was to intensify the exploration effort in mature basins as well as in poorly explored basins.
“The availability of unused processing and transport capacities encourages the search for near discoveries that, even of modest size, could rapidly contribute to raising production profiles,” he said.
As for the second objective, the aim is to improve recovery at the level of deposits already in operation, he explained: “An objective that is all the more important given the fact that many deposits have been exploited for about a half -century”.
According to him, this should benefit the country from technological improvements in all areas, including appropriate data integration tools and recovery methods.
The Minister has also cited the objectives of increasing the refining and storage capacity of petroleum products to meet the growing demand for fuels and the development of the national petrochemical industry for the local exploitation of gas resources and products Of refining.
Mr. Guitouni stressed that partnership in the upstream oil and gas, downstream, and in the services and construction sectors “is decisive for the achievement of these objectives”.
In this regard, he renewed the invitation for investors and industrialists to come to Algeria to discover the opportunities available to them.
“We are ready and willing to seal a balanced and beneficial partnership for all in a win-win approach,” he said.
On another level, the Minister reminded the audience of Algeria’s commitment to continue playing an active role in reaching agreements between OPEC and non-OPEC countries in order to rebalance the work for a “positive and constructive dialogue” with all countries.
During this session dedicated to Algeria, Sonatrach’sCEO, Mr. Abdelmoumen Ould Kaddour, also presented the concrete opportunities for investment and partnership in Algeria, in particular in exploration-production and downstream.
As a reminder, on the sidelines of the World Oil Congress, Mr. Guitouni held talks with OPEC secretary general, Mohamed Barkindo, as well as with the Turkish and Lebanese ministers responsible for energy,CEO of the French group Total, Patrick Pouyanne, and the General Manager of Groupe BP, Bob Dudley.
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