Sonatrach CEO Expect Production Increase over 2021
The year 2021 will see growth in the production and sales of the National Hydrocarbons Company Sonatrach, according to the company’s CEO, Toufik Hakkar. “In terms of operational activities, 2021 will see growth in production and sales,” Hakkar predicted in the editorial of the latest issue of the newsletter by the oil and gas group.
Hakkar assured that in the medium-term Sonatrach will continue to meet the growing needs of the national market, which will reach 70 million TEP from 2024, while maintaining an export level above 90 million TEP annually, due to the commissioning of new deposits in the South-West and South-East regions.
Sonatrach’s investment program for the next five years will amount to $40 billion dollars, of which 51% in the local dinar currency.
This program “reflects the implementation of our policy of promoting local content, with the tangible desire to be part of an integrative approach for national companies in the realization of our projects,” Hakkar stated.
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