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FINANCIAL NEWS
Algeria, Spain aim to extend oil field deals
23 Nov 2016
(MENAFN) The Algerian state energy firm Sonatrach and Spain’s Cepsa inked a deal in order to increase tie deals for two oil fields in N .African country.
Moreover, Algeria has proclaimed plans to enhance oil and gas production after stagnation in recent years due to a lack of foreign investment.
Additionally, both sides also inked a memorandum of understanding to explore chances in other areas where both sides have mutual interests in Algeria and globally.
The country predicts gas output to reach 141.3bn cubic meters in the coming year, 143.9bn cubic meters in 2018, 150bcm in 2019 and 165bcm in 2020.
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