More oil in Algeria?

More oil in Algeria?

Algerian Energy Minister Mustafa Qaitouni announced the start of the oil exploration in 10 basins in the cities of southern Bouira, beginning next July.

Following his visit to the sites of 8 oil wells in Qatreiny Valley in the municipality of Deira, Qitouni explained that the Ministry of Energy has commissioned a group of experts to start the exploration operations. That is after the completion of the geological study of the area and providing them with all the necessary equipment to carry out the excavations and to increase the production at the sites that were discovered in 1948.

According to the Minister of Energy, the states of “Ain Al-Dafla” and Tiaret have been equipped to start oil exploration at several basins.

The minister stated that raising the prices of gas and electricity is not currently in discussions, adding that the increases would affect industrialists, investors and the biggest energy consumers, “But the economic market inevitability is forcing us to increase the price of electricity and gas,” Qitouni also said.

The minister also denied the freezing of private sector projects in gas and electricity fields, and explained that they are only postponed.

About Author

Arnaud Lefevre

Arnaud Lefevre is the Chief Executive Officer of Dynatom International. Arnaud is in charge of the international development of the business portfolio.

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