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Algeria to become MENA’s 3rd biggest energy investor in 5 yrs

10 Oct 2012

(MENAFN) The Arab Petroleum Investments Corporation (APICORP) stated that during the coming 5 years, Algeria will become the third-biggest energy investor in the North Africa and Middle East (MENA) region, reported Kuwait News Agency (KUNA).

The subsidiary of the Organization of Arab Petroleum Exporting Countries (OAPEC) added that between 2013 and 2017, the North African country’s investments in the energy sector would exceed USD71 billion, thus, enabling Algeria to outdo Iran, Iraq and Qatar.

Apicorp said that energy investment by regional oil producing countries is forecasted to reach USD740 billion in the mentioned period.

It is worth noting that between 2013 and 2017, Saudi Arabia will invest USD165 billion in the energy sector and the UAE will invest USD107 billion.

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