SONATRACH plans to double production capacity over next decade

Published on : Tuesday, 17 April 2018 19:15   Read : 151 time(s)
SONATRACH plans to double production capacity over next decade

ORAN- The national hydrocarbon group SONATRACH plans to double its production capacity over the next ten years, said Tuesday in Oran (432-km west of Algiers) the group's CEO, Abdelmoumen Ould Kaddour.

"We want to double our hydrocarbon production capacity over the next decade, as part of our new development strategy for 2030," Ould Kaddour told APS on the sidelines of the second day of the 11th Scientific and Technical Days (JST11), held by SONATRACH at the Conventions Centre of Oran.

"We are trying to become independent from oil price volatility and dependent on the volume," stressed the CEO of SONATRACH.


See also: Hydrocarbons: SONATRACH makes 26 gas, oil finds since beginning of 2017


"The more we produce, the less we are affected by the decline in oil prices," he added.

Ould Kaddour underlined that oil market "is unpredictable, hence the need to work day to day to cope with fluctuations."

Last modified on Wednesday, 18 April 2018 13:49
SONATRACH plans to double production capacity over next decade