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Inter-ministerial council: Sonatrach development plan, bill on hydrocarbons presented

Published on : Tuesday, 24 September 2019 12:31   Read : 2 time(s)
Inter-ministerial council: Sonatrach development plan, bill on hydrocarbons presented

ALGIERS- Prime Minister Noureddine Bedoui chaired Monday, a meeting of the inter-ministerial Council devoted to the examination of Sonatrach development plan and draft bill on hydrocarbons, said a communiqué of the Prime Minister’s Office.

During the presentation of Sonatrach development plan for the period 2020-2030, the meeting, marked by the participation of Ministers of Finance Mohamed Loukal, of Energy Mohamed Arkab, of Industry Djamila Tamazirt, minister secretary general of government, as well as Chief Executive Officer of Sonatrach Rachid Hachichi, examined the new hydrocarbon development strategy in Algeria in the long-medium and short terms, and of which Sonatrach constitutes the beating heart, said the communiqué.

In his speech, Bedoui welcomed the efforts of the company, its officials and of its workers, for the invaluable contribution to the development of the national economy and to increase its efficiency, stressing the State’s total support through the adaptation of the legal and institutional system, enabling it to take up the challenges to satisfy the country’s energy needs in the long term and t continue promoting its position among the global hydrocarbon companies.

To smooth away the difficulties and remove obstacles hindering Sonatrach’s activity on the ground and the execution of its projects,  it was decided to create a multi-sectoral committee which will be placed under the supervision of Interior minister and will also have its representatives at the local level.  

It was decided to implement a green corridor for Sonatrach at the level of the Customs’ administrative services to facilitate clearance of its equipment.


See also: Sonatrach dubs “urgent” promulgation of new law on hydrocarbons


In this respect, it was also decided to ensure the necessary financial and banking facilitations for Sonatrach, notably in terms of implementing its investment programme.

 

                                                                                              Draft bill on hydrocarbons: Maintaining rule 49/51, incentive tax system

 

The draft bill on hydrocarbons comes, added the source, in response to the developments in the hydrocarbon field at the local and external levels, especially as the law in force, promulgated in 2005 and amended in 2013 has shown, in some provisions, its limits and negative effects on the production operations and attraction of foreign investments.”

In addition to that, the national consumption increases every fifteen years, constituting a structural deficit between the supply and the demand at the national market, notably in terms of gas by 2025-2030.

In this respect, the draft bill aims at “setting up a stable legal, institutional and fiscal system likely to boost the long-term investment in hydrocarbons, without undermining the national interests. The decision to maintain the rule 49/51, on foreign investments in this field, was taken.”

 

 

Last modified on Tuesday, 24 September 2019 19:43
Inter-ministerial council: Sonatrach development plan, bill on hydrocarbons presented