Refining capacity of Algeria will double within five years (Minister)

The minister said in a message read by one of his advisers at the opening of the 9th scientific and technical Sonatrach days,'' the current refining capacity of Algeria, about 700,000 barrels / day, will doubled within five years through the creation of six new refineries.''

'' The increase in refining capacity will cover domestic consumption until 2040 to develop a petrochemical near these refineries,'' he added. Youcef Yousfi, on the other hand, reported an ambitious program that will be implemented this year by Sonatrach and on the intensification of exploration efforts across the country. In this sense, he called the national oil company partners to accompany him in these activities.

'' In the context of energy policy, it is not only to continue but also to intensify the exploration effort on the whole national territory'' said the minister, stating that s ''' was to highlight new hydrocarbon reserves that can cover long-term needs of the domestic market and to maintain and strengthen the position of our country as an active player in the supply of oil of mainly European and Asian global energy market.''

On the other hand, the minister said that'' the Algerian mining, known to be highly prospective and containing a significant potential offers promising prospects for investments in exploration, development and exploitation hydrocarbons.''

The opening ceremony of the JST'' 9'' was attended by the CEO of Sonatrach, Abdelhamid Zerguine and
representatives of the Minitry of Energy and Mines, domestic and foreign experts and representatives of oil companies world.