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FINANCIAL NEWS
Algeria to increase gas, oil production
19 Jan 2014
(MENAFN) Algeria intends to increase natural gas production and oil output by 100 percent and 50 percent respectively within 10 years, The Peninsula Qatar reported.
The country’s Energy Minister said that shale gas is to contribute to the ambitious production plan. The minister estimated Algeria’s recoverable reserves at between 25 and 30 trillion cubic feet. “Algeria plans very seriously to double its gas production,” he said.
“We are going to see how much we can extract,” he added. However, he said that new finds would also allow the country to increase its oil production by 50 percent in the next 10 years decade.
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