The political situation in Algeria has no impact on the relationship and negotiations between Sonatrach and its foreign partners, said Tuesday at the end of the day the CEO of the Oil & Gas Group, Sonatrach, Rachid Hachichi, adding that the teams work normally.
Speaking at a press briefing he conducted following an inspection visit he made at the level of oil and gas infrastructure in Hassi Messaoud (Ouargla), Mr. Hachichi and in response to a question about the impact of the country’s political situation on the negotiations between Sonatrach and its foreign partners, replied: « information on any disruption of relations or negotiations between Sonatrach and its partners are unfounded ».
Stating that Sonatrach’s teams and foreign partners « are still working closely together, » the official reassured that his words « will be confirmed in the coming days ».
Asked about Sonatrach’s projects, Hachici said: « The Group will continue with its investment program, which plans dozens of new upstream and downstream oil and gas projects to modernize its facilities and increase its capacity. production ».
Regarding Algeria’s capacity in production, as well as its oil and gas reserves, the CEO explained that Sonatrach « is still pursuing its efforts to improve its production through the already installed capacities, but also through the exploration of new deposits and the search for new discoveries « , indicating that the Algerian mining area is of the order of 1.5 million km2 which » leaves some way to go « .
Referring to the energy base, Hachichi said that conventional resources represent only 19 percent of the energy base, while unconventional energy accounts for the remaining 3 percent of oil and the rest of gas.
In this sense, he explained that the 3% of unconventional oil is the equivalent of « twice the Hassi Messaoud deposit », whereas in gas, the unconventional resources recoverable represent « nine (09) times the Hassi R’mel deposit « , ie 150 years of supply with the current level of production.
Read also: Sonatrach: commissioning of a new gas compression and re-injection station in Hassi-Messaoud
Believing that « this potential is there, » he said that the way of operating it will be the subject of a gradual strategy « at the right time », adding that the demand of the local market is constantly increasing, and had been close to 43 billion M3 of gas in 2018.
In this vein, he said that Sonatrach must meet the imperative of ensuring local energy security, but also take part in exporting to ensure currency revenues for the country.
Asked about Algeria’s competition in the international gas market with the emergence of new exporters to the European market, Hachihi said « competition is very tough ».
However, the geographical location of Algeria and its gas pipelines to Europe « let the partners place their trust in Algeria to ensure their energy security », adding that Algeria is engaged in several contracts spread over dozens of years with partners « with a minimum of guaranteed consumption, therefore, the country is paid, even if the partner does not exhaust the minimum required, which will put us in a comfortable situation ».
In addition, on the fate of Sonatrach Group’s development strategy SH-2030, Sonatrach’s first manager reassured that « the strategy is still being maintained », saying that he is « closely following » his progress, because « everything what is in the interest of the company will be realized.
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